Equity futures took a sharp turn lower after the November Producer Price Index came in hotter-than-expected.
The S&P 500 futures are down 10 points and are trading 0.2% below fair value.
The Nasdaq 100 futures are down 35 points and are trading 0.2% below fair value.
The Dow Jones Industrial Average futures are down 66 points and are trading 0.1% below fair value.
Producer Price Index rose 0.3% month-over-month in November (consensus 0.2%) following a revised 0.3% increase in October (from 0.2%). The core Producer Price Index, which excludes food and energy, rose 0.4% month-over-month in November (consensus 0.2%) following a revised 0.1% increase in October (from 0.0%).