US stocks: Wall Street opens lower as oil jump, high yields fuel inflation concerns

US stocks opened lower on Thursday (Oct 8) as oil prices surged and Treasury yields hovered near multi-year highs, stoking inflation worries ahead of an earnings season that will test whether corporate profits can sustain the momentum.

The Dow Jones Industrial Average fell 178.5 points, or 0.35 per cent, at the open to 51,001.38. The S&P 500 fell 28.9 points, or 0.37 per cent, at the open to 7,772.87, while the Nasdaq Composite fell 135.05 points, or 0.49 per cent, to 27,403.64 at the opening bell. REUTERS