BUSINESS US stocks open lower as tech lags


US stocks open lower as tech lags


23:10, May 04, 2021

NEW YORK, May 4 (Xinhua) -- U.S. stocks opened noticeably lower on Tuesday, weighed down by overall weakness in tech.

Shortly after the opening bell, the Dow Jones Industrial Average dipped 200.41 points, or 0.59 percent, to 33,912.82. The S&P 500 decreased 35.94 points, or 0.86 percent, to 4,156.72. The Nasdaq Composite Index fell 212.58 points, or 1.53 percent, to 13,682.54.

All 11 primary S&P 500 sectors pulled back in morning trading, with technology down 1.74 percent, leading the losses.

Shares of major U.S. tech giants, or the so-called FAANG group of Facebook, Apple, Amazon, Netflix and Google-parent Alphabet, all traded lower.

On Monday, U.S. equities closed mixed, which saw the Dow and the S&P 500 score solid gains, while the Nasdaq declined, after data showed that the April U.S. manufacturing index missed expectations.

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