Wall Street Opens Lower After Hot Core CPI Data Fuels Rate Hike Bets

U.S. stock indices opened lower on Wednesday as hotter-than-expected inflation figures raised concerns over Federal Reserve interest rate policy. At the opening bell, the Dow Jones Industrial Average fell 85.11 points, or 0.16%, to 51,584.99, while the S&P 500 slid 0.40% to 7,774.18 and the Nasdaq Composite dropped 0.63% to 27,031.64. The retreat followed Labor Department data showing September core CPI climbed 0.3% month-over-month and 2.6% year-over-year, exceeding forecasts. Headline CPI met expectations, rising 0.6% on the month to an annual rate of 3.7%.