Wall Street opens lower ahead of expected interest rate hike

Crude oil prices were also moving lower in early trading Monday.
Representative image
Representative image

NEW YORK: Stocks are opening lower on Wall Street as investors brace for another big interest rate increase this week from the Federal Reserve.

Crude oil prices were also moving lower in early trading Monday.

Major U.S. indexes were down about a third of a percent in the early going, and Treasury yields were moving higher.

Markets are looking ahead to Wednesday, when the Federal Reserve will announce its latest decision on rates.

It’s expected to raise its benchmark rate, which influences intrest rates throughout the economy, another three-quarters of a percentage point in its fight against inflation.

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