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7/9/2019, 3:31 PM (Source: TeleTrader)
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US stocks open lower, Dow drops over 100 pts

Wall Street opened in the red on Tuesday as global trade tensions continued to take their toll on the markets. United States President Donald Trump slammed India's decision to levy tariffs on US products as "no longer acceptable" and said earlier in the day that the US was negotiating or working on negotiating multiple trade deals at the moment. In addition, the director of the US National Economic Council Larry Kudlow asserted that the Federal Reserve should look at price and not jobs data and remarked that Trump had "a particular concern" over currency manipulation by other countries.

In other news, investors awaited the US JOLTS job openings for May due for release after the opening bell.

The Dow Jones Industrial Average opened 0.43% or 110 points lower while the Nasdaq 100 dropped 0.48% with Marriott International the worst performer. Meanwhile, the S&P 500 fell by 0.40% on the back of IPG Photonics Corp's losses.

The euro was flat against the dollar to change hands for 1.1209 at 9:28 am ET while the British pound tumbled 0.36% against the greenback to go for 1.2468 at the same time.

Breaking the News / DZ