Wall St slides on Ukraine

By Dow Jones newswires

In other economic news, data showed industrial production rose 0. 4 per cent in July, above the rise of 0. 2 per cent expected.

But traders said that volumes were light, which led stock benchmarks to make sharp moves on political concerns. "It's been thin all week, and we're all paying attention to what's going on over there," said Keith Bliss, senior vice president at brokerage Cuttone & Co.

Germany's DAX Index erased gains as well, and was recently down 1. 2 per cent. Coca-Cola Co. rose 1. 7 per cent after it said it would buy a stake in Monster Beverage in a move to boost sales.

Data showed producer prices rose 0. 1 per cent in July from June.

The S&P 500 index shed three points, or 0. 2 per cent, to 1952, and the Nasdaq Composite Index edged up three points, or 0. 1 per cent, to 4455.

Friday's reports show "the economy is growing fast enough to support corporate earnings, but not so fast that it forces the Fed to act sooner, " said Colin Cieszynski, senior market analyst at brokerage CMC Markets.

Excluding the more volatile categories of food and energy, producer prices rose 0. 2 per cent.

Economists had expected a 0. 2 per cent increase last month and a similar 0. 2 per cent rise excluding food and energy.

Read more here: Business Spectator


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