Wall Street Dives at Open as Hot Inflation Data Drives Rate-Cut Jitters

Wall Street’s main indexes slid at open on Tuesday after a hotter-than-expected consumer inflation reading drove U.S. Treasury yields higher, squashing market speculations for imminent interest rate cuts.

The Dow Jones Industrial Average fell 98.21 points, or 0.25 percent, at the open to 38,699.17. The S&P 500 opened lower by 53.90 points, or 1.07 percent, at 4,967.94, while the Nasdaq Composite dropped 343.67 points, or 2.16 percent, to 15,598.88 at the opening bell.