(Corrects day of the week to Friday from Thursday in paragraph 1) June 5 (Reuters) – The S&P 500 and the Nasdaq dropped at market open on Friday as chip stocks eased after a sharp rally, while a strong jobs report reinforced expectations of tighter monetary policy. The Dow Jones Industrial Average rose 48.1 points, […]
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S&P 500, Nasdaq slip at open after solid jobs data fuels hawkish Fed fears; chip stocks fall
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(Corrects day of the week to Friday from Thursday in paragraph 1)
June 5 (Reuters) – The S&P 500 and the Nasdaq dropped at market open on Friday as chip stocks eased after a sharp rally, while a strong jobs report reinforced expectations of tighter monetary policy.
The Dow Jones Industrial Average rose 48.1 points, or 0.09%, at the open to 51610.02. The S&P 500 fell 47.0 points, or 0.62%, at the open to 7537.36, while the Nasdaq Composite dropped 294.4 points, or 1.10%, to 26,536.593 at the opening bell.
(Reporting by Medha Singh in Bengaluru)