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US: Wall St opens lower as megacaps drag

Published Wed, May 8, 2024 · 09:46 PM
    • The S&P 500 fell 18.7 points, or 0.36 per cent, at the open to 5,168.98​, while the Nasdaq Composite dropped 106.5 points, or 0.65 per cent, to 16,226.067 at the opening bell.
    • The S&P 500 fell 18.7 points, or 0.36 per cent, at the open to 5,168.98​, while the Nasdaq Composite dropped 106.5 points, or 0.65 per cent, to 16,226.067 at the opening bell. PHOTO: BLOOMBERG

    US stock indexes opened lower on Wednesday (May 8), dragged down by megacap stocks including Tesla, as Treasury yields rebounded with investors seeking more clarity on the Federal Reserve’s plans for interest rate cuts.

    The Dow Jones Industrial Average fell 65.4 points, or 0.17 per cent, at the open to 38,818.9.

    The S&P 500 fell 18.7 points, or 0.36 per cent, at the open to 5,168.98​, while the Nasdaq Composite dropped 106.5 points, or 0.65 per cent, to 16,226.067 at the opening bell. REUTERS

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