Futures slump after hot inflation data

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(Reuters) – Wall Street’s main indexes dropped at open on Thursday, with Big Tech leading declines, after hot inflation data put fears around a more aggressive tightening policy by the Federal Reserve back on the table.

The Dow Jones Industrial Average fell 137.25 points, or 0.38%, at the open to 35,630.81. The S&P 500 opened lower by 33.94 points, or 0.74%, at 4,553.24, while the Nasdaq Composite dropped 261.69 points, or 1.81%, to 14,228.68 at the opening bell.