DJIA Falls Further Amid Rising Oil Prices and Inflation Concerns

The Dow Jones Industrial Average (DJIA) is falling further as oil prices continue to rise above $100 per barrel, exacerbating inflation concerns. US stocks fell sharply after hotter-than-expected producer price index (PPI) data showed a 5.4% year-on-year increase in August.

Rising oil prices are lifting inflation expectations, with the Federal Reserve now predicting a 70% chance of a September rate hike, up from 60% prior to the reading.

Certain stocks are being affected by the price movements, including Macy's, which posted a Q2 revenue beat but saw shares fall. Meta Platforms is rising after an upgrade by JPMorgan, while Apple's shares increased following the unveiling of its foldable iPhone and other products.