US: Wall Street opens lower as jobs growth boosts rate hike bets

WALL STREET’S main indexes opened lower on Friday (Oct 7) as solid job growth and a drop in unemployment rate last month pointed to a tight labour market, giving more room for the Federal Reserve to stick to big-sized interest rate hikes.

The Dow Jones Industrial Average fell 241.7 points, or 0.81 per cent, at the open to 29,685.27. The S&P 500 fell 37.8 points, or 1.01 per cent, at the open to 3,706.74​, while the Nasdaq Composite dropped 196.0 points, or 1.77 per cent, to 10,877.282 at the opening bell. REUTERS