Wall Street opens lower amid Davos, data

Wednesday, 25. May 2022 15:31

Major stock indexes in the United States traded lower at the open on Wednesday, with the Dow Jones Industrial Average extending losses after the release of data on durable goods in the country, while investors awaited a report on domestic oil inventory.

The European Union faces difficulties in deciding on the measures for the sixth sanctions package against Russia, as member states demand the bloc proposes solutions before any agreement is reached.

The Dow Jones Industrial Average decreased by 0.46% at the opening bell with Nike Inc as its worse performer, falling by 2.05%. The Nasdaq 100 was pulled down by Moderna Inc. losing 2.89%, causing the index to decline by 0.42%. The S&P 500 was down by 0.39% with EPAM Systems Inc. dropping 2.77%. Shortly after the session began, all three benchmarks turned to modest gains.

The euro was 0.69% down compared to the dollar, going for $1.06618 at 9:26 am ET.

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