Wall Street indices opened in the red on Wednesday, dragged by US President Donald Trump’s latest comments on the Iran and inflation reaching a three-year high.
The S&P 500 opened 0.50% lower at 7,349.44, tech-heavy Nasdaq Composite was down 0.7% or over 176 points to 25,502.18, and the Dow Jones Industrial Average lost over 230 points to open 0.46% lower at 50,637.16.
Renewed aggressions between America and Iran are weighing on the markets as Trump has said that he is “close to ordering strikes on Iran”. He also accused Iran of taking too long to negotiate, for which he said, it will have to “pay the price.”
Besides this, the US CPI has touched a 3-year high, topping 4% in the month of may fuelling the possibility of a Fed rate hike.
(This is a developing story)