US: Wall St opens lower as retail sales data stokes rate concerns

WALL Street’s main indexes opened lower on Tuesday (Aug 15) after a sharper-than-expected rise in US retail sales stoked concerns the Federal Reserve could keep interest rates higher for longer.

The Dow Jones Industrial Average fell 88.26 points, or 0.25 per cent, at the open to 35,219.37.

The S&P 500 opened lower by 10.85 points, or 0.24 per cent, at 4,478.87, while the Nasdaq Composite dropped 27.85 points, or 0.20 per cent, to 13,760.48 at the opening bell. REUTERS