Stocks Dip Amid Inflation Concerns and Mixed Data

The stock market experienced a downturn as the S&P 500, Nasdaq, and Dow Jones all fell, driven by concerns over inflation and interest rate decisions. Despite a record high for Apple, Adobe's weak revenue forecast and Nvidia's decline contributed to the negative sentiment. The producer price index rose more than expected, complicating the Federal Reserve's potential rate cut decision. Meanwhile, mortgage rates fell for the third week, and YouTube TV announced a price increase. Bitcoin remained above $101,000, buoyed by optimism over potential crypto-friendly policies under President-elect Trump.