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US STOCKS SNAPSHOT-Wall Street drops at the open after Powell dents rate-cut hopes
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US STOCKS SNAPSHOT-Wall Street drops at the open after Powell dents rate-cut hopes
Nov 15, 2024 11:01 AM

Nov 15 (Reuters) - Wall Street's main indexes opened

lower on Friday, after Federal Reserve Chair Jerome Powell said

there was no need to rush interest-rate cuts, pushing up bond

yields and pressuring rate-sensitive equities.

The Dow Jones Industrial Average fell 162.9 points,

or 0.37%, at the open to 43,587.93. The S&P 500 fell 36.4

points, or 0.61%, at the open to 5,912.79​, while the Nasdaq

Composite dropped 177.7 points, or 0.93%, to 18,929.916

at the opening bell.

(Reporting by Lisa Pauline Mattackal in Bengaluru; Editing by

Devika Syamnath)

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