US: Wall St opens lower as chip stocks fall, Powell in focus

WALL Street opened lower on Wednesday (Jun 28), pressured by a report the US could curb sales of artificial intelligence (AI) chips to China, while investors awaited Federal Reserve Chair Jerome Powell’s speech for clues on the interest rate outlook.

The Dow Jones Industrial Average fell 45.36 points, or 0.13 per cent, at the open to 33,881.38.

The S&P 500 opened lower by 10.93 points, or 0.25 per cent, at 4,367.48, while the Nasdaq Composite dropped 49.66 points, or 0.37 per cent, to 13,506.02 at the opening bell. REUTERS