Oct 23 (Reuters) – Wall Street’s main indexes opened lower on Friday as caution prevailed after a sharp selloff in AI-linked stocks, while telecom stocks tumbled on fears that intensified competition from SpaceX could erode their market share. The Dow Jones Industrial Average fell 171.3 points, or 0.32%, at the open to 52,696.7. The S&P […]
Business
Wall St opens lower after AI rout; SpaceX worries hit telecoms
Audio By Carbonatix
Oct 23 (Reuters) – Wall Street’s main indexes opened lower on Friday as caution prevailed after a sharp selloff in AI-linked stocks, while telecom stocks tumbled on fears that intensified competition from SpaceX could erode their market share.
The Dow Jones Industrial Average fell 171.3 points, or 0.32%, at the open to 52,696.7. The S&P 500 fell 26.2 points, or 0.34%, at the open to 7,637.18, while the Nasdaq Composite dropped 114.9 points, or 0.44%, to 25,893.953 at the opening bell.
(Reporting by Ragini Mathur in Bengaluru; Editing by Shinjini Ganguli)