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PPI Surges 6%, Dow Falls; Tech Rallies, Tariffs Bite

5/13/2026

42 8 Full Breakdown

Summary

Story summary

The Producer Price Index rose 6.0% in April, the fastest since March 2022, prompting the Dow to fall 0.5% to 49,511.51.
Tech stocks rallied, with Nvidia up 1.7%, Micron up 5% and On Semiconductor up 9%, as American Electric Power slid 3.6% after a $2.6 billion stock offering.
Birkenstock Holding fell 13.6% blaming U.S. tariffs, while higher oil prices from the Iran conflict amplified inflation pressure and complicated Federal Reserve (Fed) policy.

History

Historical Context

October 1973 OAPEC, led by Saudi Arabia’s King Faisal, imposed an oil embargo on the United States and allies, driving West Texas Intermediate from about $3 to $12 per barrel—a near-400 % jump that sparked stagflation and the first oil-price shock. The embargo lifted in March 1974, shaping today’s policy focus on energy volatility.

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Story summary

The Producer Price Index rose 6.0% in April, the fastest since March 2022, prompting the Dow to fall 0.5% to 49,511.51.
Tech stocks rallied, with Nvidia up 1.7%, Micron up 5% and On Semiconductor up 9%, as American Electric Power slid 3.6% after a $2.6 billion stock offering.
Birkenstock Holding fell 13.6% blaming U.S. tariffs, while higher oil prices from the Iran conflict amplified inflation pressure and complicated Federal Reserve (Fed) policy.

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