US: Wall St opens lower as Powell doubles down on inflation fight

WALL Street’s main indexes opened lower on Wednesday (Jun 21) as Federal Reserve Chair Jerome Powell remained firm in bringing inflation back to 2 per cent target, spurring worries of more monetary tightening.

The Dow Jones Industrial Average fell 63.31 points, or 0.19 per cent, at the open to 33,990.56.

The S&P 500 opened lower by 8.70 points, or 0.20 per cent, at 4,380.01, while the Nasdaq Composite dropped 46.43 points, or 0.34 per cent, to 13,620.87 at the opening bell. REUTERS