Wall St opens lower as oil jump and high yields fuel inflation concerns
SPY•U.S. stocks opened lower on Thursday as oil prices surged and Treasury yields hovered near multi-year highs; the Dow fell 0.35%, the S&P 500 0.37% and the Nasdaq 0.49%.
1. Stocks open lower
U.S. stocks fell at the open as surging oil prices and Treasury yields near multi-year highs stoked inflation worries ahead of an earnings season that will test whether corporate profits can sustain momentum. The Dow fell 178.5 points to 51,001.38, the S&P 500 dropped 28.9 points to 7,772.87 and the Nasdaq declined 135.05 points to 27,403.64.
