Xinhua
28 Jan 2021, 02:05 GMT+10
NEW YORK, Jan. 27 (Xinhua) -- U.S. stocks opened noticeably lower on Wednesday as investors sifted through some earnings reports and awaited a policy update from the Federal Reserve.
Shortly after the opening bell, the Dow Jones Industrial Average tumbled 426.12 points, or 1.38 percent, to 30,510.92. The S&P 500 was down 58.28 points, or 1.52 percent, to 3,791.24. The Nasdaq Composite Index dropped 266.02 points, or 1.95 percent, to 13,360.05.
Nine of the 11 primary S&P 500 sectors pulled back, with materials down 3.32 percent, leading the laggards. Consumer staples and real estate climbed 0.3 percent and 0.02 percent, respectively, the only two gaining groups.
Boeing shares fell more than 4 percent after the company posted a much wider-than-expected fourth quarter loss.
Shares of Microsoft were up slightly after its results topped analyst expectations.
U.S. tech giants Apple, Facebook and Tesla are set to report earnings after the closing bell.
Investors will also focus on the Fed's latest interest rate decision to be announced Wednesday afternoon. The U.S. central bank is expected to commit to its accommodative policy stance to support the U.S. economy.
Get a daily dose of Professional Autos news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Professional Autos.
More InformationAUSTIN, Texas: Aviation and aerospace company SpaceX is expanding its presence to align with global demand by setting up a ...
GOTHENBURG, Sweden: Volvo targets to only manufacture electric cars by 2030 by significantly increasing the size of its U.S. South ...
CUPERTINO, California: Apple announced on Monday that all 270 of its store locations in the U.S. have officially opened for ...
Zoom Video Communications' fourth-quarter results trumped forecasts of moderate growth following its meteoric rise in 2020, with revenues surging 369 ...
BENGALORE, India: The Covid vaccine manufactured by Bharat Biotech has been found to be 81 percent effective, in an analysis ...
NEW YORK, New York - U.S. stocks rallied on Friday following the release of positive economic data.U.S. employers added 379,000 ...
CARSON CITY, Nevada: Nevada Governor Steve Sisolak has proposed allowing technology companies specializing in blockchain technology to develop "Innovation Zones" ...
Kurnool (Andhra Pradesh) [India], March 7 (ANI): AIMIM president Asaduddin Owaisi has accused the YSRCP of buying candidates of other ...
WASHINGTON - Republican Senator Ted Cruz has placed a hold on President Joe Biden's pick to lead the Central Intelligence ...
Bhubaneswar (Odisha) [India], March 7 (ANI): The State Cabinet meeting held under the chairmanship of Chief Minister Naveen Patnaik on ...
New Delhi [India], March 6 (ANI): The Samarpan (donation) amount collected through door-to-door drive for Ram temple construction in Ayodhya ...
Islamabad [Pakistan], March 6 (ANI): The way Pakistani member of the National Assembly Aamir Liaquat Husain used the image of ...