US: Nasdaq opens lower as tech giants disappoint; Fed decision in focus

THE tech-heavy Nasdaq opened lower on Wednesday (Jan 31) as Alphabet and Microsoft’s projections for rising AI costs dented megacap and chip stocks ahead of a US Federal Reserve policy decision expected later in the day.

The Nasdaq Composite dropped 185.71 points, or 1.20 per cent, to 15,324.19 at the opening bell, while the Dow Jones Industrial Average fell 40.53 points, or 0.11 per cent, at the open to 38,426.78.

The S&P 500 opened lower by 25.78 points, or 0.52 per cent, at 4,899.19. REUTERS