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8/19, 3:31 PM (Source: TeleTrader)
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Wall Street opens lower on Fed's tapering consensus

United States major stock markets opened lower on Thursday, contributing to the volatile nature of the trading week. Most worries circulated around Fed's Minutes meeting, where members agreed to begin this year scaling back $120 billion in monthly asset purchasing. Meanwhile, the initial jobless claims decreased by 29,000 to 348,000, beating analyst expectations and hitting a new pandemic era low.

The US dollar reached a nine-month high against the euro, while oil and other materials saw a decline causing commodity producers' stocks to drop as well. Investors preferred moving assets to entities less sensitive to global economic shifts and supply bottlenecks, particularly following a strong earnings season.

The Dow lost 0.76% at the opening bell with Walgreens dropping by 1.84%, while the S&P 500 fell by 0.64% as Illumina tanked by 8.82%. The Nasdaq 100 was 0.43% in the red led by Pinduoduo plunging 6.51%. The euro declined by 0.13% against the dollar trading for $1.16948 at 9:33 am ET.

Breaking the News / LH