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Stocks Drop After Inflation Data

Tuesday, 15 Dec 2009 10:49 AM

Stocks are lower in early trading after after wholesale inflation rose more than expected in November, led by surge in energy costs.

The increase will likely be discussed as Federal Reserve policymakers begin a two-day meeting on interest rates Tuesday. The Fed is expected to keep rates unchanged.

Stocks have fallen overseas as the dollar rose against the euro amid continuing worries about Greece's debts and the financial health of Austria's banks.

The Dow Jones industrial average is down 34.76, or 0.3 percent, at 10,466.29, the Standard & Poor's 500 index is down 4.79, or 0.4 percent, at 1,109.32, and the Nasdaq composite index is down 8.31, or 0.4 percent, to 2,203.79.

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Stocks are lower in early trading after after wholesale inflation rose more than expected in November, led by surge in energy costs.The increase will likely be discussed as Federal Reserve policymakers begin a two-day meeting on interest rates Tuesday. The Fed is expected...
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2009-49-15
 

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