US: Wall St dives at open as hot inflation data drives rate-cut jitters

WALL Street’s main indexes slid at the open on Tuesday (Feb 13) after a hotter-than-expected consumer inflation reading drove US Treasury yields higher, squashing market speculations for imminent interest rate cuts.

The Dow Jones Industrial Average fell 98.21 points, or 0.25 per cent, at the open to 38,699.17.

The S&P 500 opened lower by 53.90 points, or 1.07 per cent, at 4,967.94, while the Nasdaq Composite dropped 343.67 points, or 2.16 per cent, to 15,598.88 at the opening bell. REUTERS