Wall Street drops

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Wall Street drops at open as strong inflation stokes rate hike fears.

Wall Street’s main indexes opened lower on Wednesday after stronger-than-expected inflation data fueled fears of tighter monetary policy to combat possibly a longer period of inflation.

The Dow Jones Industrial Average fell 62.8 points, or 0.18%, at the open to 34,206.40. The S&P 500 fell 21.6 points, or 0.52%, at the open to 4,130.55​, while the Nasdaq Composite dropped 173.9 points, or 1.30%, to 13,215.49 at the opening bell.

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