Business

Wall Street opens lower on prospects of Democrat-controlled Senate

Futures tracking the Nasdaq 100 index fell more than 1per cent on Wednesday as investors priced in the prospect of Democrats winning both races in a Senate run-off election in Georgia that will determine the balance of power in Washington.

FILE PHOTO: The U.S. flag covers the front facade of the NYSE in New York
FILE PHOTO: The U.S. flag covers the front facade of the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 9, 2020. REUTERS/Brendan McDermid
(Updated: )

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REUTERS: Wall Street's main indexes opened lower on Wednesday as the likelihood of Democrats gaining control of the Senate sparked fears of increased regulatory scrutiny of technology mega-caps.

The Dow Jones Industrial Average fell 28.8 points, or 0.09per cent, at the open to 30362.78. The S&P 500 fell 14.7 points, or 0.39per cent, to 3712.2​ and the Nasdaq Composite dropped 152.8 points, or 1.19per cent, to 12666.15.

(Reporting by Devik Jain in Bengaluru; Editing by Anil D'Silva)

Source: Reuters