Finace And Stock

Wall Street slides on inflation worries; ADP jobs beat sparks taper fears

Wall Street’s main indexes opened lower on Wednesday after soaring oil prices fed into fears of higher inflation, while a survey showing a strong rise in private jobs last month fueled concerns of a sooner-than-expected easing of monetary stimulus.

The Dow Jones Industrial Average fell 115.71 points, or 0.34 per cent, at the open to 34,198.96.

The S&P 500 opened lower by 26.15 points, or 0.60 per cent, at 4,319.57, while the Nasdaq Composite dropped 144.38 points, or 1.00 per cent, to 14,289.45 at the opening bell.

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