Wall Street opens in red as inflation worries intensify

Wall Street’s main indexes fall sharply at the open.

US markets plunged on Thursday’s opening bell as the country faced the highest inflation figures since 1982, with initial jobless claims rising above market estimates.

Nine of the 11 major S&P sectors declined, with technology, down 1.9%, falling the most after leading a Wall Street rally in the previous session.

Megacap growth stocks Microsoft, Meta Platforms and Tesla all slipped more than 1%, while Nvidia Corp and Apple dropped over 2.5% each.

Shares of jumped 7% after its board approved a 20-for-1 split of the e-commerce giant’s common stock and authorized a $10 billion buyback plan

The Dow Jones sank 0.97%. The Nasdaq 100 tumbled 1.21% and the S&P 500 fell by 0.95%.

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Not Investment Advice Note: Views expressed are those of the writer. The author does not own any stocks mentioned. The article is information, not advice. Share prices can rise and fall. Past returns are not a guide to the future. Please do your own research.