The Business Times

US: Wall Street opens lower after rally in growth stocks falters

Published Wed, Oct 5, 2022 · 09:46 PM

WALL Street opened lower on Wednesday (Oct 5) due to weakness in megacap growth and technology stocks as Treasury yields rose, spurred by data that showed a resilient demand for labour despite rising interest rates.

The Dow Jones Industrial Average fell 238.0 points, or 0.78 stocks, at the open to 30,078.36.

The S&P 500 fell 37.7 points, or 0.99 stocks, at the open to 3,753.25​, while the Nasdaq Composite dropped 153.7 points, or 1.38 stocks, to 11,022.672 at the opening bell. REUTERS

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