US: Wall St opens sharply lower as hot inflation data dents rate cut hopes

WALL Street’s main indexes dropped at the open on Wednesday (Feb 12), as a hotter-than-anticipated inflation reading added to concerns that the Federal Reserve would not cut interest rates anytime soon.

The Dow Jones Industrial Average fell 236.0 points, or 0.53 per cent, at the open to 44357.7.

The S&P 500 fell 43.4 points, or 0.72 per cent, at the open to 6025.08, while the Nasdaq Composite dropped 207.3 points, or 1.06 per cent, to 19436.511 at the opening bell. REUTERS