Wall Street Opens Lower on Concerns Over Hawkish Fed

Wall Street Opens Lower on Concerns Over Hawkish Fed
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City on May 16, 2023. Brendan McDermid/Reuters
Reuters
Updated:

Wall Street opened lower on Thursday, with the S&P 500 and Nasdaq retreating from 14-month highs as the Federal Reserve signalled that interest rates could rise further this year.

The Dow Jones Industrial Average fell 33.35 points, or 0.10 percent, at the open to 33,945.98. The S&P 500 opened lower by 7.26 points, or 0.17 percent, at 4,365.33, while the Nasdaq Composite dropped 53.60 points, or 0.39 percent, to 13,572.88 at the opening bell.