"Inflation Data Sparks Stock Market Volatility: Wall Street Reacts"

U.S. stocks fell as a hotter-than-expected producer prices report raised concerns about inflation, dampening hopes for imminent interest rate cuts by the Federal Reserve. The Nasdaq showed the largest decline, with all three indexes posting a weekly decline after five consecutive weeks of gains. The data could prompt the Fed to delay rate cuts, with Treasury yields spiking after the report. Despite robust corporate earnings and surging enthusiasm around artificial intelligence, most megacap stocks dropped, while Roku slid on forecasting a bigger first-quarter loss and Coinbase surged after posting its first profit since 2021.