Salem Radio Network News Saturday, May 8, 2021

Business

Wall St. opens lower as rotation out of megacaps weighs

(Reuters) – Wall Street’s main indexes opened lower on Tuesday as investors continued to move out of megacap growth stocks and into companies that are expected to benefit from the reopening of economies.

The Dow Jones Industrial Average fell 33.03 points, or 0.10%, at the open to 34,080.20. The S&P 500 opened lower by 13.62 points, or 0.32%, at 4,179.04, while the Nasdaq Composite dropped 120.61 points, or 0.87%, to 13,774.51 at the opening bell.

(Reporting by Shreyashi Sanyal in Bengaluru; Editing by Saumyadeb Chakrabarty)

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