business
US stocks open lower, pausing from rally mode
The S&P 500 closed a hair under 2,000 Friday, a solid comeback after falling below 1,830 in early February. – Reuters pic, March 7, 2016.Wall Street stocks opened lower today, pausing from the rally of the last three weeks ahead of a much-anticipated European Central Bank meeting.
Five minutes into trade, the Dow Jones Industrial Average stood at 16,961.36, down 45.41 points (0.27%).
The broad-based S&P 500 shed 8.40 (0.42%) at 1,991.59, while the tech-rich Nasdaq Composite Index fell 24.36 (0.52%) to 4,305.70.
The S&P 500 closed a hair under 2,000 Friday, a solid comeback after falling below 1,830 in early February.
The rally "has been a huge run for the market against a backdrop of declining earnings estimates and weak global growth," said Briefing.com analyst Patrick O'Hare.
Thursday's meeting of the ECB is expected to result in another round of stimulus measures to counter the risk of deflation in the 19-nation eurozone. – AFP, March 7, 2016.
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