Stocks Decline as Inflation and Rate Speculation Weigh on Markets
Major indices dip following hotter-than-expected wholesale price data, with Adobe and small-cap stocks leading losses.
- The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all fell on Thursday, with the Russell 2000 small-cap index dropping over 1%.
- November's producer price index rose 0.4%, exceeding expectations of 0.2%, raising doubts about the Federal Reserve's next interest rate decision.
- Adobe shares plunged nearly 14% after issuing weaker-than-expected revenue guidance for 2025, citing challenges with AI investments.
- Market breadth remained weak, with more S&P 500 stocks declining than advancing for the ninth consecutive session, a streak not seen since 2001.
- Bitcoin held above $101,000, while mortgage rates fell for the third consecutive week, signaling mixed signals across financial markets.
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