U.S. Treasuries finished lower, as equities edged higher. In economic news, the Labor Department reported U.S. wholesale prices plunged at the sharpest rate on record in October, as a slowing global economy lowered imported energy prices. Prices also were impacted by domestic carmakers offering cut-rate financing to attract buyers after the Sept. 11 attacks.
The Producer Price Index dropped a much-steeper-than-expected 1.6% in October - a stark change since the back-to-back 0.4% gains recorded in August and September. The decrease in prices in October sharply exceeded Wall Street economists' forecasts for a 0.4% fall and was the biggest slide for any month since the government began keeping records in 1947, according to press reports.