Wall Street Opens Lower After Bank Results

Wall Street Opens Lower After Bank Results
Traders work on the trading floor at the New York Stock Exchange (NYSE) in New York City on Jan. 5, 2023. Andrew Kelly/Reuters
Reuters
Updated:

Wall Street’s main indexes opened lower on Friday as remarks from executives of major U.S. banks deepened concerns about a slowdown in economic growth, while a slump in Tesla’s shares also pressured the Nasdaq.

The Dow Jones Industrial Average fell by 257.18 points, or 0.75 percent, at the open to 33932.79.

The S&P 500 opened lower by 22.57 points, or 0.57 percent, at 3,960.60, while the Nasdaq Composite dropped 94.74 points, or 0.86 percent, to 10,906.37 at the opening bell.