BUSINESS US stocks open lower as risk appetite eases


US stocks open lower as risk appetite eases


00:18, February 11, 2020


File photo: AP

NEW YORK, Feb. 10 (Xinhua) -- U.S. stocks opened lower on Monday as investors' risk appetite eased.

Shortly after the opening bell, the Dow Jones Industrial Average was down 38.60 points, or 0.13 percent, to 29,063.91. The S&P 500 fell 4.54 points, or 0.14 percent, to 3,323.17. The Nasdaq Composite Index was down 7.67 points, or 0.08 percent, to 9,512.84.

However, the equities market soon pared losses.

Most of the 30 Dow component companies traded in green territory, with Boeing and Walgreens Boots Alliance adding 2.17 percent and 1.11 percent respectively, leading the gainers.

Nine of the 11 primary S&P 500 sectors traded higher with consumer discretionary adding 0.97 percent, leading the advancers.

U.S. Federal Reserve Governor Michelle Bowman said Monday the current setting of the central bank's monetary policy should help the U.S. economy continue to grow.

The Fed lowered interest rates three times in 2019, cutting the target range of the federal funds rate by 75 basis points to 1.5-1.75 percent.

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