US: Wall St opens sharply lower after red-hot inflation data

WALL Street’s main indexes opened sharply lower on Wednesday (Jul 13) after hotter-than-expected inflation data fuelled bets that the US Federal Reserve will hike interest rates aggressively to tame surging prices.

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