Wall Street’s main indexes opened lower on Wednesday, as high-flying growth stocks continued to be pressured by valuation concerns, while some cyclical stocks gained on prospects of an economic rebound.
The Nasdaq Composite dropped 100.9 points, or 0.75%, to 13,364.66 at the opening bell, falling for six out of the last seven sessions.
The Dow Jones Industrial Average fell 53.6 points, or 0.17%, at the open to 31,483.91, while the S&P 500 fell 10.18 points, or 0.26%, at the open to 3,871.19.
