US: Wall St slides after hotter-than-expected producer prices data

WALL Street’s main indexes opened lower on Friday (Aug 11) as stronger-than-expected producer prices data lifted US bond yields, weighing down rate-sensitive megacap technology and growth stocks.

The Dow Jones Industrial Average fell 64.79 points, or 0.18 per cent, at the open to 35,111.36.

The S&P 500 opened lower by 18.14 points, or 0.41 per cent, at 4,450.69, while the Nasdaq Composite dropped 104.34 points, or 0.76 per cent, to 13,633.65 at the opening bell. REUTERS