Wall Street slides after Bank of America CEO warns of potential rate hikes

U.S. equity markets opened lower on Wednesday, with the Dow Jones Industrial Average down 0.17% to 52,231.18, the S&P 500 falling 0.27% to 7,478.84, and the Nasdaq slipping 0.66% to 26,039.50. The declines were attributed in part to comments from Bank of America chief executive Brian Moynihan, who said the Federal Reserve might raise interest rates three more times this year to combat inflation. Moynihan’s remarks unsettled investors already wary of elevated spending in the AI sector and lingering geopolitical tensions.

The broader market dip was echoed across major global exchanges, with London’s FTSE‑100, Frankfurt’s DAX, Paris’s CAC 40 and Seoul’s Kospi also posting losses, while Tokyo’s Nikkei and Shanghai’s Composite posted modest gains. The mixed performance highlights ongoing uncertainty over monetary policy, inflation trends and geopolitical risks.