Wall Street Opens Lower as Tech Stocks Slide

Traders Michael Urkonis (L), John Santiago (C), and Thomas Ferrigno work on the floor of the New York Stock Exchange on Dec. 9, 2021. (Richard Drew/AP Photo)

Wall Street’s main indexes opened lower on Friday as big technology stocks tumbled, reeling from the Federal Reserve’s decision to end its pandemic-era stimulus faster, which pushed investors towards cyclical parts of the market.

The Dow Jones Industrial Average fell 97.53 points, or 0.27 percent, at the open to 35,800.11. The S&P 500 opened lower by 16.17 points, or 0.35 percent, at 4,652.50, while the Nasdaq Composite dropped 143.66 points, or 0.95 percent, to 15,036.77 at the opening bell.