US: Wall Street retreats at open on earnings jitters

WALL Street’s main indexes opened lower on Monday (Jul 11) as investors braced for the start of the earnings season, which could see profits come under pressure at a time of growing fears of an economic downturn due to aggressive interest rate hikes.

The Dow Jones Industrial Average fell 60.17 points, or 0.19 per cent, at the open to 31,277.98.

The S&P 500 opened lower by 18.44 points, or 0.47 per cent, at 3,880.94, while the Nasdaq Composite dropped 110.82 points, or 0.95%, to 11,524.49 at the opening bell. REUTERS