The tech-heavy Nasdaq opened lower on Wednesday (January 31) as Alphabet and Microsoft’s projections for rising AI costs dented megacap and chip stocks ahead of a U.S. Federal Reserve policy decision expected later in the day.
The Nasdaq Composite dropped 185.71 points, or 1.20 percent, to 15,324.19 at the opening bell, while the Dow Jones Industrial Average fell 40.53 points, or 0.11 percent, at the open to 38,426.78.
The S&P 500 opened lower by 25.78 points, or 0.52 percent, at 4,899.19.
