Wall St slumps at open after hot inflation data

Published by
Reuters

(Reuters) – Wall Street’s main indexes opened sharply lower on Tuesday after data showed monthly U.S consumer prices unexpectedly rose in August, cementing bets of a third straight 75-basis-point rate hike from the Federal Reserve next week. The Dow Jones Industrial Average fell 374.84 points, or 1.16%, at the open to 32,006.50. The S&P 500 opened lower by 73.29 points, or 1.78%, at 4,037.12, while the Nasdaq Composite dropped 357.60 points, or 2.92%, to 11,908.81 at the opening bell. (Reporting by Sruthi Shankar in Bengaluru; Editing by Anil D’Silva)

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