Wall Street Drops at Open as Facebook Outlook Sparks Tech Rout

A sign for Wall Street hangs in front of the New York Stock Exchange in New York City, on July 8, 2021. (Mark Lennihan/AP Photo)

U.S. stock indexes opened lower on Thursday, with the Nasdaq diving more than 2 percent, as Facebook-owner Meta Platforms’ dour forecast jolted the broader tech sector and threatened to upend a nascent recovery in stock markets.

The Dow Jones Industrial Average fell 109.2 points, or 0.31 percent, at the open to 35520.08.

The S&P 500 fell 54.0 points, or 1.18 percent, at the open to 4535.41, while the Nasdaq Composite dropped 371.7 points, or 2.58 percent, to 14045.834 at the opening bell.