Economy 1 MIN READ

US STOCKS SNAPSHOT-Wall Street opens lower on rate hike worries

May 12, 2022By Reuters

Wall Street’s main indexes opened lower on Thursday, led by growth stocks, as investors worried that aggressive interest rate increases to curb decades-high inflation could tip the economy into recession.

The Dow Jones Industrial Average .DJI fell 135.07 points, or 0.42%, at the open to 31,699.04. The S&P 500 .SPX opened lower by 31.23 points, or 0.79%, at 3,903.95, while the Nasdaq Composite .IXIC dropped 164.98 points, or 1.45%, to 11,199.25 at the opening bell.

(Reporting by Amruta Khandekar in Bengaluru; Editing by Arun Koyyur)


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