The Dow Jones Industrial Average and other stock indexes fell on Thursday after the release of hotter-than-expected inflation data. Stocks such as Nvidia (NVDA) and Tesla (TSLA) continued to decline.
The Dow Jones Industrial Average dropped 0.4%, the S&P 500 lost 0.5%, and the tech-heavy Nasdaq composite fell 0.6%. The Invesco QQQ Trust ETF (QQQ) was down 0.6%, and the SPDR S&P 500 ETF (SPY) fell 0.5%. The 10-year Treasury yield rose to 4.26%, and oil prices climbed above $80 a barrel.
Nvidia and Tesla both saw declines in Thursday morning trading sessions. Nvidia fell 3.5%, while Tesla dropped 2.3%. The Labor Department reported its producer price index, with a 0.6% rise in February and a 1.6% annual increase, both higher than expected.
Key earnings movers included Dick’s Sporting Goods (DKS), Dollar General (DG), Lennar (LEN), SentinelOne (S), and UiPath (PATH). Dick’s Sporting Goods shares rallied, while Dollar General and Lennar saw declines. Tesla is currently below its moving average and at new recent lows.
