Wall Street opens lower after China rate move

Wall Street opened lower on Monday as shares fell globally following a surprise interest rate increase from China's central bank.

The Dow Jones industrial average was down 32.54 points, or 0.28 percent, at 11,540.95. The Standard & Poor's 500 Index was down 3.14 points, or 0.25 percent, at 1,253.63. The Nasdaq Composite Index was down 8.92 points, or 0.33 percent, at 2,656.68.

(Reporting by Ryan Vlastelica)