Wall Street falls at open on worries over Fed autonomy

[NEW YORK] Wall Street’s main indexes opened lower on Monday (Jan 12) after the Trump administration renewed its attacks on the Federal Reserve, stoking fresh worries about the central bank’s independence, while a proposed one-year cap on credit-card interest rates weighed on financial stocks.

The Dow Jones Industrial Average fell 4.4 points, or 0.01 per cent, at the open to 49499.67.

The S&P 500 fell 22.2 points, or 0.32 per cent, to 6944.12, while the Nasdaq Composite dropped 94.5 points, or 0.40 per cent, to 23576.877. REUTERS