US: Wall St slumps at open after hot inflation data

WALL Street’s main indexes opened sharply lower on Tuesday (Sep 13) after data showed monthly US consumer prices unexpectedly rose in August, cementing bets of a third straight 75-basis-point rate hike from the Federal Reserve next week.

The Dow Jones Industrial Average fell 374.84 points, or 1.16 per cent, at the open to 32,006.50.

The S&P 500 opened lower by 73.29 points, or 1.78 per cent, at 4,037.12, while the Nasdaq Composite dropped 357.60 points, or 2.92 per cent, to 11,908.81 at the opening bell. REUTERS