Stocks open lower as tech stocks continue slide
Stocks opened lower Friday, with the tech-heavy Nasdaq Composite leading the way lower for major indexes. The Dow Jones Industrial Average
DJIA,
fell 209 points, or 0.6%, to 35,689, while the S&P 500
SPX,
declined 0.6% to 4,639.86 and the Nasdaq
COMP,
dropped 0.7% to 15,070.42. The Nasdaq on Thursday suffered its biggest one-day fall since September in a move blamed by analysts on the Federal Reserve’s more aggressively hawkish outlook, with the central bank on Wednesday accelerating the wind-down of its asset purchase program and penciling in three rate increases in 2022. Tech- and growth-related stocks are seen as more rate-sensitive, though Treasury yields have edged lower since the Fed meeting.
