U.S. stocks open lower as oil tops $100 and rate-hike bets rise

  • Major U.S. stock indexes opened lower after August producer prices raised rate-hike expectations.
  • The Dow fell 0.17%, the S&P 500 0.55%, and the Nasdaq 0.88%.
  • Escalating Middle East conflict pushed oil prices above $100 a barrel.

Major U.S. stock indexes opened lower on Thursday after August producer prices increased expectations of an interest rate hike this month. An escalating Middle East conflict pushed oil prices above $100 a barrel. The Dow Jones Industrial Average fell 88.8 points, or 0.17%, to 52,291.85; the S&P 500 dropped 41.6 points, or 0.55%, to 7,594.74; and the Nasdaq Composite declined 232.3 points, or 0.88%, to 26,021.052 at the open.

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