Wall Street Opens Sharply Lower After Hot Inflation Data

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A street sign on Wall Street outside the New York Stock Exchange, on Sept. 18, 2007. (Brendan McDermid/Reuters)

Wall Street’s main indexes opened sharply lower on Thursday, with the Nasdaq leading the losses, after data showed a bigger-than-expected rise in consumer prices last month, giving more ammunition to the Federal Reserve to stick to aggressive rate hikes.

The Dow Jones Industrial Average fell 455.0 points, or 1.56 percent, at the open to 28755.83. The S&P 500 fell 56.7 points, or 1.58 percent, at the open to 3520.37​, while the Nasdaq Composite dropped 285.3 points, or 2.74 percent, to 10131.816 at the opening bell.

Reuters

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