Shares of industrial and transportation companies plunged amid renewed fears of stagflation after grimmer-than-anticipated consumer-price data and factory earnings.

Wesco International shares fell by more than 20% after the maker of electrical and industrial supplies posted weaker-than-expected fourth-quarter earnings.

The Democratic-controlled Senate passed a $95.3 billion package backed by President Biden that contains a desperately sought round of aid for Ukraine and funds for Israel and Taiwan, sending the bill to the Republican-led House where it faces an uncertain future.

Shares of IPG Photonics dropped after the laser maker warned of a deeper-than-expected decline in revenue in the first quarter.

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(END) Dow Jones Newswires

02-13-24 1721ET