Wall St opens lower as Russia-Ukraine optimism wanes

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Wall Street’s main indexes opened lower on Wednesday, as optimism around Ukraine-Russia peace talks waned and investors fretted over the prospect of rapid rise in interest rates hurting economic growth.

The Dow Jones Industrial Average fell 20.6 points, or 0.06%, at the open to 35,273.63. The S&P 500 fell 7.4 points, or 0.16%, at the open to 4,624.2, while the Nasdaq Composite dropped 61.0 points, or 0.42%, to 14,558.59 at the opening bell.

Kyiv on Wednesday accused Moscow of shelling a city where it had promised deescalation, casting a pall following upbeat comments from both countries about negotiations held Tuesday.

The latest developments lifted crude prices.

Payroll services firm ADP reported US private employers hired 455,000 people this month, slightly more than forecast but less than the upwardly revised 486,000 positions added in February.

The data, which comes ahead of Friday’s government jobs report, shows the American labor market remains healthy even as the wider economy struggles with inflation and supply shortages.

Among individual companies, Lululemon Athletica jumped 6.7 percent as the apparel companies unveiled a $1 billion stock repurchase program and reported strong results that included a 23 percent surge in quarterly revenues to $2.1 billion.

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