Wall Street opens lower, Dow dips over 280 pts

Wednesday, 05. October 2022 15:33

Major United States markets opened lower on Wednesday despite previous sessions' optimism which fueled the markets due to a possible dovish movement by the Fed in October's meeting.

During the premarket session, Automatic Data Processing Inc. (ADP) said that the number of jobs in the country climbed by 280,000 in September. Previously, it was known that on Monday, Elon Musk proposed to Twitter to continue with the deal at $54.20 per share. A move that the company accepted.

The Dow Jones lost 286 points or 0.95% at 9:30 am ET, with Boeing sinking 2.43%. The Nasdaq 100 fell 1.36%, while Mercado Libre decreased by 3.13%. The S&P 500 declined 1.17%, as Lumen Technologies dropped by 7.84%. The euro was down by 1.02% against the dollar at 9:28 am ET, selling for $0.98803.

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Author:
Baha Breaking News (BBN) / JG