U.S. stock indexes opened sharply lower on Thursday after stronger-than-expected producer prices data added fears that the Federal Reserve will keep raising interest rates to tame inflation.

The Dow Jones Industrial Average fell 135.96 points, or 0.40 percent, at the open to 33,992.09. The S&P 500 opened lower by 32.85 points, or 0.79 percent, at 4,114.75, while the Nasdaq Composite dropped 174.28 points, or 1.44 percent, to 11,896.31 at the opening bell.