Thursday, October 6, 2022

Tech Stocks Drag Wall Street Lower at Open on Rate Worries

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Traders work on the floor of the New York Stock Exchange (NYSE) in New York City on Aug. 22, 2022. (Brendan McDermid/Reuters)

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City on Aug. 22, 2022. (Brendan McDermid/Reuters)

Wall Street’s main indexes opened lower on Monday, led by technology stocks, as investors worried about the Federal Reserve’s plan to keep raising interest rates in its fight against inflation even at the cost of an economic slowdown.

The Dow Jones Industrial Average fell 95.40 points, or 0.30 percent, at the open to 32,188.00.

The S&P 500 opened lower by 23.08 points, or 0.57 percent, at 4,034.58, while the Nasdaq Composite dropped 120.66 points, or 0.99 percent, to 12,021.05 at the opening bell.

Reuters

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