Wall Street opens lower after Fed hikes rate again

Thursday, 03. November 2022 14:30

Stock exchanges in the United States were in the red to open the session on Thursday after the Federal Reserve hiked rates by 0.75 percentage points again, with Fed Chair Jerome Powell confirming that a pause in hiking rates should not be expected soon. Investors looked at the latest US job cuts, jobless claims and international trade data and prepared for a series of earnings reports by Coinbase, PayPal, Amgen, Dropbox, Starbucks and Warner Bros Discovery after the close.

The Dow Jones Industrial Average index opened 0.76% or 245 points lower. Apple was the worst performer after losing 3.10% at 9:47 am ET. The Nasdaq 100 fell 1.27% at the start of trading as Fortinet led the losses, decreasing 16.82% at 9:31 am ET. The S&P 500 decreased by 1.07% at 9:30 am ET. Lincoln National Corp tumbled 25.70% at 9:33 am ET.

The euro was down 0.66% compared to the dollar at 9:29 am ET and changed hands for 0.97517.

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Author:
Baha Breaking News (BBN) / MS