US: Wall St slides as labour data stokes rate hike concerns

WALL Street’s main indexes opened lower on Thursday (Jul 6) as data signalling a resilient labour market and hawkish minutes of the Federal Reserve’s June meeting fanned fears the central bank could keep interest rates higher for longer.

The Dow Jones Industrial Average fell 117.25 points, or 0.34 per cent, at the open to 34,171.39.

The S&P 500 opened lower by 24.20 points, or 0.54 per cent, at 4,422.62, while the Nasdaq Composite dropped 138.49 points, or 1.00 per cent, to 13,653.17 at the opening bell. REUTERS