US: Wall Street opens sharply lower after hot inflation data

WALL Street’s main indexes opened sharply lower on Thursday (Oct 13), with the Nasdaq leading the losses, after data showed a bigger-than-expected rise in consumer prices last month, giving more ammunition to the Federal Reserve to stick to aggressive rate hikes.

The Dow Jones Industrial Average fell 455.0 points, or 1.56 per cent, at the open to 28755.83. The S&P 500 fell 56.7 points, or 1.58 per cent, at the open to 3520.37, while the Nasdaq Composite dropped 285.3 points, or 2.74 per cent, to 10131.816 at the opening bell. REUTERS