U.S. stocks opened lower Friday, with all three major benchmarks on track for a second straight week of declines in the wake of the Federal Reserve’s policy meeting on Wednesday. The Dow Jones Industrial Average was down 0.7% soon after the bell, while the S&P 500 dropped 0.6% and the Nasdaq Composite shed 0.3%, according to FactSet data, at last check. The Fed signaled Wednesday that its benchmark interest rate could rise above 5% next year, striking a hawkish tone that sparked a stock market slump amid recession fears. Investors will see fresh economic data on U.S. manufacturing and services at 9:45 a.m. Eastern time.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
0
0
