NEW YORK (dpa-AFX) – Price data from the USA took the wind out of the sails of the New York indices near their record prices on Friday. Producer prices in the United States rose slightly more than expected in January. This could be bad news again for market participants who are betting on interest rates falling soon.
The Dow Jones Industrial (Dow Jones 30 Industrial) was down 0.42 percent at 38,608.64 points in early trading. The market-wide S&P 500 fell by 0.23 percent to 5017.95 points. The NASDAQ 100 fell by 0.13 percent to 17,821.78 points. After setbacks on Tuesday, all three indices had recently recovered for two days and had approached their best levels again.
The day before, investors had checked the already disappointing inflation figures, which had caused a price setback on Tuesday after the records at the beginning of the week. Now the producer price data could once again fuel concerns about interest rates being high for a longer period of time. Most recently, investors’ fears were also weighed against confidence in a soft landing for the economy./tih/he