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US STOCKS SNAPSHOT-Wall St opens lower after hot producer inflation data; Fed in focus

BY Reuters | ECONOMIC | 09:32 AM EDT

March 18 (Reuters) - Wall Street's main indexes opened lower on Wednesday after data showed producer prices rose more than expected in February, prompting investors to price out any expectations for an interest rate cut by the Federal Reserve this year.

The Dow Jones Industrial Average fell 79.3 points, or 0.17%, at the open to 46,913.93. The S&P 500 fell 18.9 points, or 0.28%, to 6,697.16?, while the Nasdaq Composite dropped 57.6 points, or 0.26%, to 22,421.962. (Reporting by Johann M Cherian in Bengaluru; Editing by Maju Samuel)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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