Wall Street punctured by PPI, Dow Jones slides points
NEW YORK, New York - An unexpected jump in the Producer Prices Index caused stocks to falter on Thursday, reviving inflation fears and the prospect of interest rates remaining higher for longer.
The producer price index for final demand rose 0.6 percent in February twice the zie oif the January advance, the U.S. Labor Department's Bureau of Labor Statistics reported on Thursday. Economists polled by Reuters had e