Wall Street Opens Lower as Oil Output Cut Reignites Inflation Worries

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

Wall Street’s main indexes opened lower on Monday after a surge in oil prices brought back inflation worries, bolstering bets that the U.S. Federal Reserve will deliver another interest rate hike at its next meeting.

The Dow Jones Industrial Average fell 28.37 points, or 0.09 percent, at the open to 33,245.78. The S&P 500 opened lower by 7.11 points, or 0.17 percent, at 4,102.20, while the Nasdaq Composite dropped 75.81 points, or 0.62 percent, to 12,146.09 at the opening bell.