US: Wall St tumbles at open as inflation data fuels Fed worries

WALL Street’s main indexes opened sharply lower on Friday (Feb 24) as a surge in consumer spending and inflation in January sparked concerns that the Federal Reserve will stick to its hawkish stance for longer.

The Dow Jones Industrial Average fell 154.72 points, or 0.47 per cent, at the open to 32,999.19.

The S&P 500 opened lower by 39.08 points, or 0.97 per cent, at 3,973.24, while the Nasdaq Composite dropped 186.22 points, or 1.61 per cent, to 11,404.18 at the opening bell. REUTERS