Dow Jones Slumps on Concerning PPI Inflation Data

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The Dow Jones (DJIA) is set to open Friday lower following a disappointing inflation update from the Bureau of Labor Statistics (BLS).

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The U.S. Producer Price Index (PPI) rose 0.5% month-over-month and 2.9% year-over-year in January. Both figures were above the consensus estimates of 0.3% and 2.6%, respectively. The PPI tracks the prices that producers charge for their goods and services and is often used as an early indicator of inflation.

This is a developing story. Stay tuned for additional updates.

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