US: Stocks open lower as airline shares tumble

[NEW YORK] Wall Street stocks tumbled in early trading Monday, with airline shares taking a major hit after Warren Buffett said he liquidated his holdings in major US carriers.

About five minutes into trading, the Dow Jones Industrial Average stood at 23,452.27, down 1.1 per cent.

The broad-based S&P 500 dropped 0.9 per cent to 2,804.25, while the tech-rich Nasdaq Composite Index shed 0.7 per cent to 8,547.67.

AFP

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL