NEW YORK — Most stocks fell on Wall Street Thursday after a disappointing report said inflation was worse last month at the U.S. wholesale level than economists expected. But gains for Amazon and some other influential Big Tech companies helped mask the losses.

Most stocks are falling on Wall Street Thursday after a disappointing report said inflation was worse last month at the U.S. wholesale level than economists expected. Three out of every four stocks in the S&P 500 index dropped,

World shares are generally higher after a disappointing U.S. inflation report. The report shows inflation at the wholesale level was worse than expected. The S&P 500 futures gained 0.2%, and

Stocks closed near unchanged on Thursday, slowing a rally that has pushed major indexes to record highs, after fresh inflation data revived concerns about the impact that tariffs are having on the economy.

US stock indices retreated on Thursday after a hotter-than-expected wholesale inflation data dampened investor hopes of interest rate cuts by the Federal Reserve this year. A Labor Department report showed the Producer Price Index (PPI) rose 0.9% in July on a month-on-month basis, much greater than Wall Street estimates.

The S&P 500 and the Nasdaq retreated from record highs on Thursday, after a hotter-than-expected producer prices report dampened investor expectations of potential interest-rate cuts by the Federal Reserve this year.

The Nasdaq Composite lost 22.69 points, or 0.10%, to 21,690.45. Rate-sensitive small-caps and housing stocks also dropped more than 1% each.