Wall Street closes out February with major losses

NEW YORK, New York - A strong Producer Prices Index report Friday undermined U.S. stocks across the board, with all the major indices closing with major losses. The PPI came in much stronger than expected, placing doubt on the potential for further interest rate cuts by the Federal Reserve.

"The Producer Price Index for final demand increased 0.5 percent in January, seasonally adjusted," the U.S. Bureau of Labor