March 18 (Reuters) – Wall Street’s main indexes opened lower on Wednesday after data showed producer prices rose more than expected in February, prompting investors to price out any expectations for an interest rate cut by the Federal Reserve this year.
The Dow Jones Industrial Average fell 79.3 points, or 0.17%, at the open to 46,913.93. The S&P 500 fell 18.9 points, or 0.28%, to 6,697.16, while the Nasdaq Composite dropped 57.6 points, or 0.26%, to 22,421.962.
(Reporting by Johann M Cherian in Bengaluru; Editing by Maju Samuel)
Comments