By Sruthi Shankar
(Reuters) - U.S. stocks fell on Friday, with shares of technology, energy and industrial companies taking a hit from concerns about global growth after a batch of weak Chinese data and a slide in oil prices.
"A lot of investors look at oil prices as the general indicator of the global economy, so it being weak is not a good sign," said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida.
Amid a bitter trade dispute between the Washington and Beijing, Chinese data showed producer inflation fell for the fourth straight month in October on cooling domestic demand and manufacturing activity, while car sales fell for a fourth consecutive month.
The Federal Reserve policymakers, as expected, left interest rates unchanged following a two-day meeting on Thursday, and their policy statement signaled more rate hikes ahead, with the fourth hike this year expected in December.
The latest data on U.S. producer prices did little to ease worries about rising interest rates, which have hampered gains in stocks this year.
At 11:21 a.m. EDT the Dow Jones Industrial Average was down 188.63 points, or 0.72 percent, at 26,002.59, the S&P 500 was down 25.47 points, or 0.91 percent, at 2,781.36 and the Nasdaq Composite was down 120.20 points, or 1.60 percent, at 7,410.68.
Declining issues outnumbered advancers for a 2.40-to-1 ratio on the NYSE and a 2.77-to-1 ratio on the Nasdaq.
The S&P index recorded 25 new 52-week highs and six new lows, while the Nasdaq recorded 32 new highs and 67 new lows.
(Reporting by Sruthi Shankar in Bengaluru; Editing by Arun Koyyur)
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