Wall Street collapses, Dow Jones slides below 38,000
US stock indices fell on Friday as markets assess latest inflation data released this week.
Today, the season of the quarterly earnings results for corporations officially commenced, starting with banks.
Earlier government data showed producer prices rose 0.2% m/m in March, while surging 2.1% y/y.
US unemployment claims fell to 211 thousand last week from 222 thousand, while analysts expected 216 thousand.
Other data showcased the accelerating inflation with consumer prices in March, which hurt the odds of a Fed interest rate cut in June.
US consumer prices rose 3.5% y/y in March, above estimates of 3.4%.
On a monthly basis, consumer prices rose 0.4%, while analysts expected a rise of 0.3%.
On trading, Dow Jones fell 1.2%, or 457 points as of 18:10 GMT to 37,998, while S&P 500 fell 1.4%, or 72 points to 5126, as NASDAQ shed 1.6%, or 263 points to 16,178.
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