Wall Street indexes open lower as inflation boosts Fed hike bets

Wall Street's main indexes opened lower on Wednesday, Aug. 26, after hotter-than-expected inflation data reinforced expectations for another quarter-point Federal Reserve rate hike this year. Investors were also awaiting results from AI chip leader Nvidia later in the day. The Dow Jones Industrial Average fell 29.7 points, or 0.06%, to 53,547.68 at the open. The S&P 500 dropped 10.4 points, or 0.14%, to 7,666.88, while the Nasdaq Composite declined 51.7 points, or 0.20%, to 26,099.576.

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