Stock Market Today: Dow Loses Fifth Straight as Apple Hits a Wall

Another early rally fell apart by the close, capping a holiday-shortened week full of losses for the Dow and S&P 500.

Concept art of stocks declining
(Image credit: Getty Images)

Stocks pulled a pessimistic 180 for the second consecutive session, with the major indexes opening Friday trade in the green only to swoon into the close.

The day began with inflation news: The Bureau of Labor Statistics reported that the U.S. producer price index jumped by a record 8.3% year-over-year in August; on a month-over-month basis, wholesale costs were up 0.7% – worse than expected, but perhaps indicating a crest in producer inflation.

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Kyle Woodley

Kyle Woodley is the Editor-in-Chief of WealthUp, a site dedicated to improving the personal finances and financial literacy of people of all ages. He also writes the weekly The Weekend Tea newsletter, which covers both news and analysis about spending, saving, investing, the economy and more.

Kyle was previously the Senior Investing Editor for Kiplinger.com, and the Managing Editor for InvestorPlace.com before that. His work has appeared in several outlets, including Yahoo! Finance, MSN Money, Barchart, The Globe & Mail and the Nasdaq. He also has appeared as a guest on Fox Business Network and Money Radio, among other shows and podcasts, and he has been quoted in several outlets, including MarketWatch, Vice and Univision. He is a proud graduate of The Ohio State University, where he earned a BA in journalism. 

You can check out his thoughts on the markets (and more) at @KyleWoodley.