Key insights
- The S&P 500 and Nasdaq opened lower due to a hotter-than-expected inflation report, increasing concerns about potential Fed tightening. Geopolitical tensions in the Middle East further dampened investor sentiment, contributing to the risk-off start to the trading day.
May 12 (Reuters) - The S&P 500 and the Nasdaq opened lower on Tuesday, as investors weighed a hotter-than-expected inflation report and fading hopes for a swift resolution to the Middle East conflict.
The Dow Jones Industrial Average rose 35.2 points, or 0.07%, at the open to 49,739.62. The S&P 500 fell 22.2 points, or 0.30%, at the open to 7,390.63, while the Nasdaq Composite dropped 187.1 points, or 0.71%, to 26,087.009 at the opening bell.
(Reporting by Ragini Mathur in Bengaluru; Editing by Devika Syamnath)