Wall Street Kicks Off Week Lower on Fed Worries; PayPal Climbs

Wall Street Kicks Off Week Lower on Fed Worries; PayPal Climbs
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City on May 16, 2023. (Brendan McDermid/Reuters)
Reuters
Updated:

U.S. stock indexes opened lower on Tuesday following hawkish commentary from some Federal Reserve officials last week, while PayPal climbed after agreeing to sell a part of its European buy now, pay later loans.

The Dow Jones Industrial Average fell 92.46 points, or 0.27 percent, at the open to 34,206.66. The S&P 500 opened lower by 13.48 points, or 0.31 percent, at 4,396.11, while the Nasdaq Composite dropped 47.28 points, or 0.35 percent, to 13,642.30 at the opening bell.