US stocks fell again on Friday. The S&P 500 declined 0.9 percent to complete its worst weekly loss since 2012. The Nasdaq Composite Index fell 1.3 percent.
Stocks fell despite a rise in US consumer confidence. A report on Friday showed that the preliminary April reading of the Thomson Reuters/University of Michigan consumer sentiment index was 82.6, up from a four-month low of 80.0 in March.
Another report on Friday showed that US producer prices also rose in March. The producer price index rose 0.5 percent last month, the most since June, after falling 0.1 percent in February.
China also showed signs of accelerating inflation on Friday. Its consumer price index rose 2.4 percent in March from a year ago, faster than the 2.0 percent increase in February.
No comments:
Post a Comment