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Market Snapshot: Dow looks set to sink by triple digits after Fed update, as oil extends fall

U.S. stock are down at the beginning of trade Friday, following a hotter-than-expected reading on producer prices, and after the Federal Reserve met expectations by holding interest rates steady and appearing to affirm plans to raise rates in December.

How are benchmarks performing?

The Dow Jones Industrial Average DJIA, -0.59% were down 168 points, or 0.7%, at 26,024, and the S&P 500 index SPX, -0.85% was off 23 points, or 0.8%, at 2,785, while the Nasdaq Composite Index COMP, -1.47% was retreating 92 points, or 1.2%, at 7,438.

On Thursday, the Dow DJIA, -0.59% gained 10.92 points to 26,191.22, while the S&P 500 index SPX, -0.85% shed 7.06 points, or 0.3%, to 2,806.83 and the Nasdaq Composite Index COMP, -1.47% fell 39.87 points, or 0.5%, to 7,530.88.

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