US: Wall Street slides at open as inflation concerns hit rate-sensitive stocks

WALL Street opened lower on Friday (Mar 15) as worries of sticky inflation impacting the timing of the first interest-rate cuts by the Federal Reserve roiled rate-sensitive stocks, ahead of the central bank’s meeting next week.

The Dow Jones Industrial Average fell 96.01 points, or 0.25 per cent, at the open to 38,809.65.

The S&P 500 opened lower by 27.17 points, or 0.53 per cent, at 5,123.31, while the Nasdaq Composite dropped 84.95 points, or 0.53 per cent, to 16,043.58 at the opening bell. REUTERS