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SNAPSHOT Wall St tumbles at open as jobs data fans higher rate worries

2023-02-03T14:33:26Z

A trader works on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., January 27, 2023. REUTERS/Andrew Kelly/File Photo

Wall Street’s main indexes opened lower on Friday after data showed the economy added jobs at a rapid pace last month, feeding into fears that the Federal Reserve could keep interest rates higher for longer in its fight against inflation.

The Dow Jones Industrial Average (.DJI) fell 127.64 points, or 0.37%, at the open to 33,926.30. The S&P 500 (.SPX) opened lower by 43.07 points, or 1.03%, at 4,136.69, while the Nasdaq Composite (.IXIC) dropped 253.96 points, or 2.08%, to 11,946.86 at the opening bell.