US stocks fall, producer prices jump

Markets were mostly lower on Tuesday, with the S&P 500 falling 0.4 percent to end an 8-day winning streak.

A report on Tuesday showed that US producer prices rose 0.6 percent in October. Wholesale prices jumped 8.6 percent in October from a year ago, the highest annual pace in records going back nearly 11 years.

“Bottom line, while today’s data was as expected, the numbers are certainly eye opening in terms of the pace of gains,” Bleakley Advisory Group chief investment officer Peter Boockvar said in a note.