Wall Street Opens Lower as Powell Firm on Interest Rate Hikes

Wall Street Opens Lower as Powell Firm on Interest Rate Hikes
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City on May 30, 2023. Brendan McDermid/Reuters
Reuters
Updated:

Wall Street’s main indexes opened lower on Thursday, a day after Federal Reserve Chair Jerome Powell stuck to his hawkish stance on interest rate path and ahead of his second day of testimony before a Senate committee.

The Dow Jones Industrial Average fell 51.05 points, or 0.15 percent, at the open to 33,900.47. The S&P 500 opened lower by 10.29 points, or 0.24 percent, at 4,355.40, while the Nasdaq Composite dropped 58.79 points, or 0.44 percent, to 13,443.41 at the opening bell.