US: Wall St tumbles at open as jobs data fans higher rate worries

WALL Street’s main indexes opened lower on Friday (Feb 3) after data showed the economy added jobs at a rapid pace last month, feeding into fears that the Federal Reserve could keep interest rates higher for longer in its fight against inflation.

The Dow Jones Industrial Average fell 127.64 points, or 0.37 per cent, at the open to 33,926.30.

The S&P 500 opened lower by 43.07 points, or 1.03 per cent, at 4,136.69, while the Nasdaq Composite dropped 253.96 points, or 2.08 per cent, to 11,946.86 at the opening bell. REUTERS