Dow falls 1 percent on inflation concerns

20/05/2008 - 15:10

NEW YORK (Reuters) - U.S. stocks extended losses in the first half hour of trading on Tuesday on concerns about inflation after a report showed core producer prices grew at a faster-than-expected pace in April.

The Dow Jones industrial average <.DJI> fell 131.66 points, or 1.01 percent, to 12,896.50.

The Standard & Poor's 500 Index <.SPX> was down 9.77 points, or 0.68 percent, at 1,416.86, while the Nasdaq Composite Index <.IXIC> was down 20.88 points, or 0.83 percent, at 2,495.21.

(Reporting by Caroline Valetkevitch; Editing by Kenneth Barry)

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