S&P 500, Nasdaq Slide on Hot Producer Prices Data as Fed Meet Looms

S&P 500, Nasdaq Slide on Hot Producer Prices Data as Fed Meet Looms
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, on Dec. 3, 2021. Brendan McDermid/Reuters
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The S&P 500 and the Nasdaq fell on Tuesday after data showed producer prices increased more than expected in November and ahead of a potential decision on faster tapering from the U.S. Federal Reserve this week.

The fast-spreading Omicron coronavirus variant also tamped down the mood after the S&P 500 index hit an all-time closing high late last week.