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Dow Jones and NASDAQ sharpen decline to over 1%
Economies.com
2022-05-12 14:08PM UTC
US Stock indices tumbled on Thursday following a batch of weak data and concerns about US inflation.
US producer prices rose 0.5% in April, matching estimates and compared to March's 1.4% rise.
Core prices, excluding food and energy, rose 0.4%, missing estimates of 0.6%, and down from 1% in the previous reading.
US unemployment claims rose to 203 thousand in the week ending May 7, missing estimates of 190K and compared to the previous reading's 202K, revised from 200K.
Dow Jones ell 0.7% as of 14:06 GMT to 31,608, while S&P 500 slid 0.9% to 3,899, as NASDAQ gave up 0.9% to 11,261.
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