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Business

May producer prices in US have largest yearly jump since 2022

WASHINGTON (AP) — U.S. producer prices climbed last month at the fastest pace since November 2022, fueled by a surge in energy prices after the start of the Iran war. The Labor Department reported Thursday that its producer price index — which captures inflation before it reaches consumers ...

Sell-off for AI stocks knocks Wall Street back

NEW YORK (AP) — Another sell-off for artificial-intelligence stocks helped drag the U.S. market sharply lower Wednesday, as Wall Street's former superstars continue to face heavy scrutiny for their success. The S&P 500 dropped 1.6% for its first back-to-back drop in three weeks and is ...