Salem Radio Network News Saturday, May 21, 2022

Business

Wall Street drops sharply at open on fears over new virus variant

(Reuters) – U.S. stock indexes opened sharply lower on Friday, with travel, bank and commodity-linked stocks bearing the brunt of a selloff triggered by the discovery of a new and possibly vaccine-resistant coronavirus variant.

The Dow Jones Industrial Average fell 437.69 points, or 1.22%, at the open to 35,366.69. The S&P 500 opened lower by 36.83 points, or 0.78%, at 4,664.63, while the Nasdaq Composite dropped 180.85 points, or 1.14%, to 15,664.38 at the opening bell.

(Reporting by Devik Jain in Bengaluru; Editing by Maju Samuel)

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Gary Varvel
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