CoinScoopUS Stocks Decline as PPI Data Boosts Rate Hike Expectations
US stocks fell for the fourth consecutive day as August PPI rose 5.4% year-over-year, exceeding expectations and pushing the probability of a September Fed rate hike above 70%. While Apple and Meta shares rose, the storage chip sector saw a broad pullback. Meanwhile, Brent crude surpassed $107 amid escalating Middle East tensions, and gold reclaimed the $4,400 level.
Summaries are written by AI from the original article. Not investment advice.