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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 +0.37% fell 352 points, or 1.1%, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.28% dropped 1.1% and the Nasdaq Composite /zigman2/quotes/210598365/realtime COMP -0.23% 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
33,434.28
+124.77 +0.37%
Volume: 320.97M
Aug. 11, 2022 2:20p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,222.20
+11.96 +0.28%
Volume: 2.22B
Aug. 11, 2022 2:20p
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/zigman2/quotes/210598365/realtime
US : Nasdaq
12,825.38
-29.42 -0.23%
Volume: 4.33B
Aug. 11, 2022 2:20p
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