Wall Street slides at open as inflation concerns hit rate-sensitive stocks

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 ​[[{“value”:”Wall Street slides at open as inflation concerns hit rate-sensitive stocks By Reuters

Breaking News

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Economy

Published Mar 15, 2024 05:40AM ET
Updated Mar 15, 2024 10:11AM ET

© Reuters. FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., March 5, 2024. REUTERS/Brendan McDermid/FILE PHOTO

(Reuters) – Wall Street opened lower on Friday as worries of sticky inflation impacting the timing of the first interest-rate cuts by the Federal Reserve roiled rate-sensitive stocks, ahead of the central bank’s meeting next week.

The Dow Jones Industrial Average fell 96.01 points, or 0.25%, at the open to 38,809.65. The S&P 500 opened lower by 27.17 points, or 0.53%, at 5,123.31, while the Nasdaq Composite dropped 84.95 points, or 0.53%, to 16,043.58 at the opening bell.

Wall Street slides at open as inflation concerns hit rate-sensitive stocks

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