US opens mostly lower as investors brace for Fed's decision

Wednesday, 02. November 2022 14:31

Major stock equities on Wall Street opened the trading session mostly lower on Wednesday as investors braced for the Federal Reserve's interest rate decision that will be announced in the coming hours.

The release of the country's report on private payrolls revealed an increase, while mortgage applications indicated a decline amid concerns that Federal Reserve's aggressive monetary policy could be dampening the labor and housing market prospects. In addition, investors digested the latest batch of corporate earnings, with Robinhood, Qualcomm, Booking, and eBay set to release the report after the markets close.

The Dow Jones Industrial Average was down by 0.30%, with Nike Inc. losing 1.22%. The Nasdaq 100 rose by 0.08% at the opening bell but dived into negative territory minutes later, as Airbnb Inc. pulled the index down by 5.33%. The S&P 500 dropped by 0.21%, with Paramount Global sinking by 9.60%.

The euro gained 0.27% against the American currency, to change hands to $0.99016 at 9:32 am ET.

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