The stock market has been in the red all day, and it’s currently trading near the lows of the day.
The Dow is down 112 points
The S&P 500 has fallen to 1,686, down 8 points for the day.
The S&P’s all-time high of 1,709 is slowly getting farther and farther away.
Earlier today, we learned that producer prices were unchanged in July, largely due to falling gas and electricity prices. Economists were looking for an increase of 0.3%.
This is a sign that deflation may be a bigger risk than inflation.
However, it may be too soon to get too worried.
“We doubt that July’s soft producer prices figures will force the Fed to conclude that the recent downward trend in core price pressures is more than temporary,” said Capital Economics Paul Dales.