May 29 (Reuters) - Wall Street opened lower on

Wednesday, with investors turning risk averse as concerns around

the timing and scale of the Federal Reserve's interest rate cuts

pushed Treasury yields higher and pressured megacap stocks.

The Dow Jones Industrial Average fell 136.6 points,

or 0.35%, at the open to 38716.28. The S&P 500 fell 27.3

points, or 0.51%, at the open to 5278.73​, while the Nasdaq

Composite dropped 140.5 points, or 0.83%, to 16879.349

at the opening bell.

(Reporting by Johann M Cherian in Bengaluru; Editing by

Saumyadeb Chakrabarty)