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Wall Street extends losses after Fed signals more rate hikes

Wall Street extends losses after Fed signals more rate hikes
© Reuters. FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 14, 2022. REUTERS/Brendan McDermid

 

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(Reuters) – Wall Street’s main indexes opened lower on Thursday as yields climbed against the backdrop of worries that the U.S. Federal Reserve’s rate-hike cycle is far from over, despite hints of smaller rate increases in the future.

The Dow Jones Industrial Average fell 162.71 points, or 0.51%, at the open to 31,985.05.

The S&P 500 opened lower by 26.44 points, or 0.70%, at 3,733.25, while the Nasdaq Composite dropped 125.35 points, or 1.19%, to 10,399.45 at the opening bell.

Source: Investing.com

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