Wall St opens decrease as inflation information stokes price hike worries

© Reuters. FILE PHOTO: Merchants work on the ground of the New York Inventory Change (NYSE) in New York Metropolis, U.S., November 21, 2022. REUTERS/Brendan McDermid

(Reuters) – Wall Road’s principal indexes opened decrease on Friday after a higher-than-expected rise in November producer costs fanned fears that the Federal Reserve may follow aggressive rate of interest hikes for longer.

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