US: Wall St opens lower as Snap's ad warning spurs social media selloff

WALL Street’s main indexes opened lower on Friday (Oct 21) as Snap’s forecast of no revenue growth in the lucrative holiday quarter sparked a selloff in social media companies, with galloping US Treasury yields adding to the losses.

A report on Federal Reserve officials to likely debate how to signal plans to approve a smaller increase in December limited the losses.

The Dow Jones Industrial Average fell 42.4 points, or 0.14 per cent, at the open to 30,291.18. The S&P 500 fell 8.7 points, or 0.24 per cent, at the open to 3,657.1​, while the Nasdaq Composite dropped 38.8 points, or 0.37 per cent, to 10,576.037 at the opening bell. REUTERS