"Inflation concerns dampen stock market opening: Latest updates"

Stocks fell on Wall Street as worries about inflation revived, leading to doubts that the Federal Reserve will cut interest rates soon. The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all closed lower. Rising oil prices and concerns about crumbling demand in Europe and China also weighed on stocks. The Federal Reserve's Beige Book showed evidence of a potential slowdown in the US economy, with businesses struggling to pass on costs to consumers. AMC Entertainment's stock plummeted after the company announced plans to sell up to 40 million shares. BMO Capital Markets Chief Investment Strategist believes higher US stock prices are the path of least resistance, citing positive earnings revisions and resilient economic data. The US services sector grew at a faster than expected pace in August, while Roku's stock soared after the company announced cost-cutting measures and raised its guidance.