US opens lower ahead of Powell's Senate testimony

Tuesday, 30. November 2021 15:31

Stock indexes in the United States opened with losses on Tuesday as market participants awaited testimonies of Federal Reserve Chair Jerome Powell and Treasury Secretary Janet Yellen before the Senate, scheduled to begin shortly after the opening bell. Concerns about the Omicron coronavirus variant remained in focus, with Moderna CEO Stephane Bancel saying that the strain may reduce the effectiveness of already developed vaccines.

The Dow Jones Industrial Average index lost 0.85%, or 302 points, at the open. Coca-Cola was its worst performer, decreasing 2.03% at 9:32 am ET. The Nasdaq 100 contracted by 0.40% and the S&P 500 declined by 0.71% in the first minute of trading, as Moderna lead the losses at both indexes, falling 4.20% at 9:32 am ET.

The euro increased by 0.78% against the dollar to trade at 1.13652 at 9:31 am ET.

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Author:
Baha Breaking the News (BBN) / MS