Wall Street opens lower Wednesday after higher than expected inflation
Business
Wall Street kicked off Wednesday in the red after new inflation numbers came in higher than expected, making investors nervous about possible interest rate hikes.
The Dow dropped 85.11 points, the S&P 500 slipped 31.3 points, and the Nasdaq fell 172.7 points during early trading in New York.
Consumer prices raise Federal Reserve concern
Rising prices (yes, that's what the Consumer Price Index tracks) have people worried the Federal Reserve might raise interest rates this month.
That could mean more expensive loans and a tougher time for businesses and regular folks alike.
Investors are closely reviewing earnings from key banks, since their moves can shake up everything from bank earnings.