UI is trading at $558.60, down 4.84%, following a significant market-wide selloff triggered by hotter-than-expected inflation data and geopolitical tensions.
- The Producer Price Index (PPI) rose 3.0% year-over-year, exceeding the consensus forecast of 2.7%.
- Retail sales surged 0.6%, reducing expectations for Federal Reserve rate cuts as investors reassessed monetary policy.
- The broader market reacted negatively to the data, with the Nasdaq Composite falling 1.32%.