Wall St slips after hotter-than-expected producer inflation data - Reuters — SkimNews
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- Wall Street slipped after U.S. producer inflation data came in hotter than expected, per Reuters
- U.S. oil prices surged past $100 a barrel, dragging stocks lower, per CNBC and the Anchorage Daily News
- Bonds also wobbled alongside the equity selloff, per the New York Times, leaving stocks and fixed income both in the red
Why it matters: With sticky producer inflation and crude oil back above $100 hitting simultaneously, both stocks and bonds fell together — the traditional bond hedge failed investors as hot PPI data pushed rate-cut expectations further out.
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