U.S. equities closed out Feb. 27 on a weaker footing as investors processed a mix of inflation pressure signals and growing uncertainty about the near-term policy path. The Dow Jones Industrial Average fell 521.28 points, or 1.05%, to 48,977.92. The S&P 500 ended down 0.43% at 6,878.88, and the Nasdaq Composite lost 0.92% to settle at 22,668.21.

Inflation and rates were a central part of the late-week narrative. CNBC attributed part of the Feb. 27 decline to producer price index data that came in “much hotter than expected.” Trading Economics similarly described a hot inflation report alongside a retreat in tech as drivers pulling major U.S. benchmarks into the red for February. Trading Economics also connected the hotter-than-expected inflation figures to the idea that companies are passing tariff costs through to consumers, which it said could complicate the path toward Federal Reserve rate cuts.