Wall Street opens sharply lower amid rate hike forecasts

U.S. stock indices opened lower today on selling pressures on Wall Street amid expectations of more rate hikes, and following mixed signals from Fed officials about the future of monetary policy. 

Tech stocks held onto their gains today, led by Apple, which announced a new update for iPod, while healthcare stocks rose as well ahead of a Congress session on the new healthcare law. 

On the other hand, most stocks gave up ground on uncertainty regarding the future of monetary policy, as most statements from Fed officials affirmed a gradual approach with two more hikes this year. 

As for the dollar, it slumped today against a basket of currencies to a six-week low as speculations about an accelerated timeline for rate hikes died. 

Standard and Poor's 500 fell 0.58%, or 13.69 points to 2,359.78, while Dow Jones shed 0.73%, or 151.71 points to 20,754.15.

Tech-heavy NASDAQ tumbled 0.95%, or 56.28 points to 5,845.25.