US: Wall Street opens lower on rate hike angst

US stock indexes opened lower on Thursday (Sep 8) as investors fretted about the pace of monetary policy tightening after Federal Reserve chair Jerome Powell said the central bank is “strongly committed” to controlling inflation.

The Dow Jones Industrial Average fell 99.33 points, or 0.31 per cent, at the open to 31,481.95.

The S&P 500 opened lower by 19.93 points, or 0.50 per cent, at 3,959.94, while the Nasdaq Composite dropped 112.05 points, or 0.95 per cent, to 11,679.86 at the opening bell. REUTERS