Yahoo Finance

U.S. Stocks Sink After PPI Inflation Surprise

U.S. equities fell sharply on Friday after January's producer price index rose 0.5% month‑over‑month, outpacing the 0.3% forecast, and fintech firm Block announced a near‑50% workforce cut to adapt to AI‑driven changes. The Dow Jones lost about 800 points, down 1.6%, while the Nasdaq and S&P 500 each slipped roughly 1%. Block’s co‑founder Jack Dorsey said many firms will follow suit, yet the company’s stock jumped 20% in pre‑market trading. Meanwhile, Netflix rose after abandoning its bid for Warner Bros., clearing the way for Paramount Skydance’s acquisition.