Wall Street Opens Lower as Strong Retail Sales Data Adds to Rate Hike Fears

A street sign on Wall Street outside the New York Stock Exchange, on Sept. 18, 2007. Brendan McDermid/Reuters

Wall Street’s main stock indexes opened lower on Wednesday after stronger-than-expected retail sales data underscored a resilient U.S. economy, which could offer more room for the Federal Reserve to raise interest rates.

The Dow Jones Industrial Average fell 80.64 points, or 0.24 percent, at the open to 34,008.63.

The S&P 500 opened lower by 16.63 points, or 0.40 percent, at 4,119.50, while the Nasdaq Composite dropped 55.02 points, or 0.46 percent, to 11,905.12 at the opening bell.