Wall St opens lower after hot producer inflation data; Fed in focus

[NEW YORK] Wall Street’s main indexes opened lower on Wednesday (Mar 18) after data showed producer prices rose more than expected in February, prompting investors to price out any expectations for an interest rate cut by the Federal Reserve this year.

The Dow Jones Industrial Average fell 79.3 points, or 0.17 per cent, at the open to 46,913.93.

The S&P 500 fell 18.9 points, or 0.28 per cent, to 6,697.16​, while the Nasdaq Composite dropped 57.6 points, or 0.26 per cent, to 22,421.962. REUTERS