US: Wall St opens lower as PacWest woes offset Fed optimism
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US STOCKS opened lower on Thursday (May 4) after PacWest Bancorp’s move to explore strategic options deepened concerns about the health of regional banks, countering optimism from the Federal Reserve signalling a likely pause in interest rate hikes.
The Dow Jones Industrial Average fell 66.46 points, or 0.20 per cent, at the open to 33,347.78.
The S&P 500 opened lower by 8.20 points, or 0.20 per cent, at 4,082.55, while the Nasdaq Composite dropped 27.99 points, or 0.23 per cent, to 11,997.34 at the opening bell. REUTERS
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