US: S&P 500, Nasdaq retreat from record rally after hot producer inflation data

[NEW YORK] The S&P 500 and the Nasdaq retreated from record highs on Thursday (Aug 14), after a hotter-than-expected producer prices report dampened investor expectations of potential interest-rate cuts by the Federal Reserve this year.

The Dow Jones Industrial Average fell 31.4 points, or 0.07 per cent, at the open to 44,890.84.

The S&P 500 fell 13.1 points, or 0.20 per cent, at the open to 6,453.46​, while the Nasdaq Composite dropped 63.9 points, or 0.29 per cent, to 21,649.211 at the opening bell. REUTERS