NEW YORK (AP) — Most stocks fell on Wall Street Thursday after a disappointing report said inflation was worse last month at the U.S. wholesale level than economists expected. But gains for Amazon and some other influential Big Tech companies helped mask the losses.

The S&P 500 dipped 0.3% after flirting with its all-time high, which was set two weeks ago, earlier in the day. The Dow Jones Industrial Average dropped 200 points, or 0.5%, while the Nasdaq composite shaved 0.3% off its own record.

World shares are generally higher after a disappointing U.S. inflation report. The report shows inflation at the wholesale level was worse than expected. The S&P 500 futures gained 0.2%, and

Wall Street's main indexes declined on Thursday, after a hotter-than-expected producer prices report dampened investor expectations of potential interest-rate cuts by the Federal Reserve this year.

The Nasdaq Composite lost 22.69 points, or 0.10%, to 21,690.45. Rate-sensitive small-caps and housing stocks also dropped more than 1% each.

The Dow Jones Industrial Average fell 31.4 points, the S&P 500 lost 13.1 points, the Nasdaq Composite dropped 63.9 points