Wall Street Slips on Hot Inflation and Oil Surge
Wall Street indexes fell as hotter-than-expected producer inflation data raised rate hike expectations. Rising oil prices and elevated Treasury yields also pressured equities.
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United States equities fell during Thursday's midday session after a hotter-than-expected PPI report stoked rate-hike fears. The Dow Jones Industrial Average dropped 350.24 points to 52,030.42. The pullback followed a surge in oil prices above $100 a barrel amid ongoing Middle East disruptions.
