US: Wall St opens lower on rate hike worries

WALL Street’s main indexes opened lower on Thursday (Nov 3) as yields climbed against the backdrop of worries that the US Federal Reserve’s rate-hike cycle is far from over, despite hints of smaller rate increases in the future.

The Dow Jones Industrial Average fell 162.71 points, or 0.51 per cent, at the open to 31,985.05.

The S&P 500 opened lower by 26.44 points, or 0.70 per cent, at 3,733.25, while the Nasdaq Composite dropped 125.35 points, or 1.19 per cent, to 10,399.45 at the opening bell. REUTERS