7/1/2022, 3:33 PM (Source: TeleTrader)
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US opens lower after S&P 500’s worst first half in decades

Major stock markets in the United States opened on Friday in the red territory following the S&P 500’s worst first half since 1970 and ahead of fresh economic data on manufacturing and construction spending.

Trading opens after Treasury yields slipped Thursday following the release of the price index for core personal consumption expenditures which rose 4.7% in May. Nevertheless, inflation worries will continue making headlines following news that that indicator in the Euro Zone further increased in June to reach a record 8.6%.

The Dow Jones Industrial Average lost 0.18% at 9:32 am ET, with Dow sinking by 0.88%. The Nasdaq 100 fell 0.47%, as ASML ADR led the losses, decreasing by 4.48%. At 9:33 am ET, the S&P 500 declined 0.06%, while Lam Research dropped by 4.33%.

The euro plunged by 0.75% against the dollar at 9:28 am ET, selling for $1.04047.

Baha Breaking News (BBN) / JG