Gold, precious-metals miners and freight stocks led market declines after August’s Producer Price Index (PPI), a wholesale-inflation gauge, rose 5.4% year over year, above the 5.3% consensus. The monthly increase accelerated to 0.4% from 0.1% in July, while diesel prices jumped 24.1% and fed transportation costs. Spot gold, tracked by SPDR Gold Shares, fell nearly 2% to about $4,342 an ounce as the dollar index rose 0.3% to 98.81 and the 10-year Treasury yield reached 4.90%, a fresh three-year high. By late premarket trading, the S&P 500 was down 0.8%, the Nasdaq 100 1.4%, the Dow 0.6% and the Russell 2000 1.0%; Bitcoin fell 2.0% to $76,800. RSM chief economist Joseph Brusuelas said the Bureau of Labor Statistics sampling period ended Aug. 11, excluding the latest rise in oil, gasoline and diesel prices. He said that could push wholesale inflation higher in September and spread fuel-cost pressures into core inflation, while calling the report supportive of a September rate increase. Steno Research founder Andreas Steno Larsen described the headline as poor but the core details as acceptable, while Allianz chief economic adviser Mohamed El-Erian said the market reaction showed investors had expected softer data. Fed futures priced a 66% chance of a 25-basis-point hike at next week’s Federal Open Market Committee (FOMC) meeting. Benzinga Pro’s premarket screen showed declines across miners, transport, semiconductors, utilities, packaging, housing-related shares and Strategy.