Wall Street falls at open after data stoked rate hike fears By Reuters

© Archyde.com. Traders trade at the New York Stock Exchange on November 15, 2022. Photo: Brendan McDiarmid/Archyde.com.

(Archyde.com) – US stock indexes opened sharply lower on Thursday following stronger-than-expected producer price data added to concerns that the Federal Reserve will continue to raise interest rates to cool inflation.

The industrial index fell 135.96 points, or 0.40 percent, to 33,992.09 points, and the index opened down 32.85 points, or 0.79 percent, to 4,114.75 points. The Nasdaq Composite Index fell 174.28 points, or 1.44 percent, to 11,896.31 points.

(Prepared by Mahmoud Salama for the Arabic Bulletin)