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