S&P 500, Nasdaq slip at open after solid jobs data fuels hawkish Fed fears; chip stocks fall
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[NEW YORK] The S&P 500 and the Nasdaq dropped at market open on Thursday as chip stocks eased after a sharp rally, while a strong jobs report reinforced expectations of tighter monetary policy.
The Dow Jones Industrial Average rose 48.1 points, or 0.09 per cent, at the open to 51610.02.
The S&P 500 fell 47.0 points, or 0.62 per cent, at the open to 7537.36, while the Nasdaq Composite dropped 294.4 points, or 1.10 per cent, to 26,536.593 at the opening bell. REUTERS
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