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S&P 500 Settles Lower, Market Volatility Falls Slightly

The S&P 500 closed lower on Friday as investors monitored recent inflation reports. US producer prices rose 0.7% month-over-month in January, while consumer prices in the US rose 0.5% month-over-month in January, the most in three months. Goldman Sachs and Bank of America now expect three more rate increases this year, up from their prior forecast of two rate hikes.

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