Wall Street Opens Sharply Lower After Red-Hot Inflation Data

By Reuters
Reuters
Reuters
July 13, 2022 Updated: July 13, 2022

Wall Street’s main indexes opened sharply lower on Wednesday after hotter-than-expected inflation data fueled bets that the U.S. Federal Reserve will hike interest rates aggressively to tame surging prices.

The Dow Jones Industrial Average fell 237.70 points, or 0.77 percent, at the open to 30,743.63. The S&P 500 opened lower by 39.13 points, or 1.02 percent, at 3,779.67, while the Nasdaq Composite dropped 208.18 points, or 1.85 percent, to 11,056.55 at the opening bell.

Reuters