2/22/2021, 3:31 PM (Source: TeleTrader)
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Wall Street opens lower ahead of Powell testimony

Stock markets in the United States opened lower on Monday as investors awaited Federal Reserve Chairman Jerome Powell's testimony before the Senate Banking Committee on Tuesday. Meanwhile, reports claim that President Joe Biden will limit Paycheck Protection Program loans to companies with fewer than 20 employees for the next two weeks. In company news, Goodyear will acquire Cooper in a $2.8 billion deal, while Quikrete has reached an agreement to buy Forterra for $2.74 billion.

The Dow Jones lost 0.57% at 9:30 am ET, as Boeing Co. declined by 2.98%. The S&P 500 was down 0.66% at the same time, with Viatris plummeting 11.83%. The Nasdaq 100 dropped 1.20% at 9:31 am ET, led by, which was down by 4.26%.

The euro traded 0.23% higher compared to the dollar and sold for 1.21440 at 9:32 am ET.

Baha Breaking the News (BBN) / DJ