Wall Street opens lower as bond yields and oil rebound
Wall Street's main indexes opened lower on Wednesday as rising Treasury yields and oil prices kept investors cautious ahead of the release of the Federal Reserve's September meeting minutes.
Wall Street's main indexes opened lower on Wednesday as Treasury yields and oil prices rose again, keeping investors cautious as they awaited the minutes of the Federal Reserve's September meeting.
The Dow Jones Industrial Average fell 325.06 points, or 0.63 per cent, at the open to 51,196.22. The S&P 500 fell 32.60 points, or 0.42 per cent, at the open to 7,786.33, while the Nasdaq Composite fell 155.83 points, or 0.56 per cent, to 27,444.06 at the opening bell, according to Reuters.
The declines reflect renewed concerns about higher borrowing costs and inflationary pressures, as bond yields and crude oil prices rebounded after recent fluctuations. Investors are closely watching the Fed minutes for clues about the central bank's policy direction.