Wall Street Opens Lower as Labor Data Fans Rate Hike Fears

Wall Street Opens Lower as Labor Data Fans Rate Hike Fears
A trader works on the trading floor at the New York Stock Exchange (NYSE) in New York City on Dec. 14, 2022. (Andrew Kelly/Reuters)
Reuters
1/5/2023
Updated:
1/5/2023

Wall Street’s main indexes opened lower on Thursday after further evidence of a strong labor market spurred worries that the Federal Reserve could keep raising interest rates for longer than expected.

The Dow Jones Industrial Average fell 78.05 points, or 0.23 percent, at the open to 33,191.72.

The S&P 500 opened lower by 13.23 points, or 0.34 percent, at 3,839.74, while the Nasdaq Composite dropped 68.45 points, or 0.65 percent, to 10,390.31 at the opening bell.