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Business

Karee Venema

Dow Dives 521 Points as Goldman, AmEx Slide: Stock Market Today

Block Stock Market TradingView US Federal Reserve Dell Netflix Paramount Skydance Wamsi Mohan WBD NFLX

(Image credit: Getty Images)

Stocks sold off Friday, with the main indexes ending the day and week in the red. Weighing on sentiment today was a hot inflation reading, which arrived just weeks ahead of the next Federal Reserve meeting. Slumping financial stocks also created headwinds, with AI worries ramping up after Block's (XYZ) massive layoff announcement.

Ahead of the open, the Bureau of Labor Statistics said the Producer Price Index (PPI), which measures what businesses are paying suppliers for goods, rose 0.5% month over month in January – faster than what was seen in November and December. Year over year, headline PPI was up 2.9%.

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