Wall St opens lower as inflation data stokes rate hike worries

© Reuters. FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 21, 2022. REUTERS/Brendan McDermid

(Reuters) – Wall Street’s main indexes opened lower on Friday after a higher-than-expected rise in November producer prices fanned fears that the Federal Reserve could stick to aggressive interest rate hikes for longer.

The Dow Jones Industrial Average fell 34.77 points, or 0.10%, at the open to 33,746.71. The S&P 500 opened lower by 9.34 points, or 0.24%, at 3,954.17, while the Nasdaq Composite dropped 43.83 points, or 0.40%, to 11,038.17 at the opening bell.