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June 30, 2022, 9:32 a.m. EDT

Stocks open sharply lower as S&P 500 heads for worst start to a year since 1970

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By William Watts

Stocks opened sharply lower Wednesday, on track to cap a brutal first half for equities that has the S&P 500 on pace for its worst such start since at least 1970. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.18% fell 352 points, or 1.1%, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.42% dropped 1.1% and the Nasdaq Composite /zigman2/quotes/210598365/realtime COMP -1.19% shed 1.2%. Data on Thursday showed a key gauge of U.S. inflation rose 0.6% in May largely due to the higher cost of gas and food, though there were signs that price pressures were starting to ease. The rise in the so-called personal-consumption price index was triple the 0.2% gain in April. But a narrower measure of inflation that omits volatile food and energy costs, known as the core PCE, rose by a relatively modest 0.3% for the fourth month in a row - below Wall Street's 0.4% forecast.

/zigman2/quotes/210598065/realtime
US : Dow Jones Global
32,774.41
-58.13 -0.18%
Volume: 320.97M
Aug. 9, 2022 5:13p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,122.47
-17.59 -0.42%
Volume: 2.22B
Aug. 9, 2022 5:13p
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/zigman2/quotes/210598365/realtime
US : Nasdaq
12,493.93
-150.53 -1.19%
Volume: 5.33B
Aug. 9, 2022 5:16p
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