Don’t miss the latest developments in business and finance.

Wall Street opens lower ahead of Fed Chairman Jerome Powell's speech

Wall Street's main indexes opened lower on Tuesday as investors sold off high-flying growth stocks on valuation concerns ahead of Federal Reserve Chairman Jerome Powell's testimony before Congress

Jerome Powell
Federal Reserve chairman Jerome Powell
Reuters
1 min read Last Updated : Feb 23 2021 | 8:36 PM IST

(Reuters) - Wall Street's main indexes opened lower on Tuesday as investors sold off high-flying growth stocks on valuation concerns ahead of Federal Reserve Chairman Jerome Powell's testimony before Congress.

The Dow Jones Industrial Average fell 19.8 points, or 0.06%, at the open to 31501.89. The S&P 500 fell 19.4 points, or 0.50%, to 3857.07​, while the Nasdaq Composite dropped 270.4 points, or 2.00%, to 13262.607 at the opening bell.

 

(Reporting by Devik Jain in Bengaluru; Editing by Shinjini Ganguli)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

More From This Section

Topics :Wall StreetJerome PowellUS Federal ReserveUS economyUS CongressUS stock market

First Published: Feb 23 2021 | 8:32 PM IST

Next Story