US Stocks Fall on Higher Inflation Data, Tech Sector Defies Trend

US stocks extended their decline for the fourth consecutive session on September 11, with the S&P 500 falling 0.58% to close at 7,591.70 points.

The NASDAQ dropped 0.65% to 26,081.720 points, and the Dow Jones Industrial Average down 0.60% to 52,064.10 points.

The core factor weighing on the broader market was August PPI data exceeding expectations; year-over-year inflation rose 5.4%, above the market forecast of 5.3%, and further accelerated from the previous reading of 4.7%.

However, Apple surged 3.56%, leading the Magnificent Seven, with Meta gaining about 4%, and the Wind US Tech Magnificent Seven Index edging up 0.11%.