Dow falls 400 points as stocks open sharply lower on inflation jitters

Stocks opened sharply lower Wednesday, with tech shares leading the way to the downside on worries over rising inflation pressures and plunging prices for bitcoin and other crypto assets. The Dow Jones Industrial Average was down 402 points, or 1.2%, at 33,859, while the S&P 500 skidded 1.3% to 4,076. The Nasdaq Composite dropped 1.5% to 13,108. Investors are awaiting the 2 p.m Eastern release of minutes from the Federal Reserve’s April policy meeting for further insights into the central bank’s views on inflation. Fed officials have largely reiterated that they believe it is too early to be begin contemplating rolling back monetary policy support despite a pickup in inflation.

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