Wall Street drops at the open after Powell dents rate-cut hopes

The Dow Jones Industrial Average declined by 162.9 points, or 0.37%, to open at 43,587.93. The S&P 500 dropped 36.4 points, or 0.61%, opening at 5,912.79, while the Nasdaq Composite fell 177.7 points, or 0.93%, to begin the day at 18,929.92.