Wall Street Opens Lower as Strong Jobs Data Fuels Rate-Hike Worries

By Reuters
Reuters
Reuters
August 5, 2022 Updated: August 5, 2022

Wall Street’s main indexes opened lower on Friday as a solid July jobs report bolstered the case for the Federal Reserve to continue on its path of aggressive interest rate hikes.

The Dow Jones Industrial Average fell 132.92 points, or 0.41 percent, at the open to 32,593.90. The S&P 500 opened lower by 36.07 points, or 0.87 percent, at 4,115.87, while the Nasdaq Composite dropped 181.78 points, or 1.43 percent, to 12,538.81 at the opening bell.

Reuters