U.S. stocks open lower after hotter-than-expected producer price inflation data

U.S. stocks opened lower on Wednesday after erasing their premarket gains as data showed producer-price inflation accelerated more quickly than expected last month. The S&P 500 SPX, +0.24% fell 10 points, or 0.3%, to 3,579. The Dow Jones Industrial Average DJIA, +0.47% retreated 84 points, or 0.3%, to 29,155. The Nasdaq Composite declined 27 points, or 0.3%, to 10,399.