Stocks slip as markets eye cautious Fed
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., June 12, 2024. REUTERS/Brendan McDermid/File Photo
(Reuters) - Wall Street's main indexes opened lower on Friday, with investors pausing after strong rallies on the S&P 500 and the Nasdaq, as they weighed hawkish Federal Reserve projections against the backdrop of a cooling economy.
The Dow Jones Industrial Average fell 118.71 points, or 0.31%, at the open to 38,528.39. The S&P 500 opened lower by 9.66 points, or 0.18%, at 5,424.08, while the Nasdaq Composite dropped 46.38 points, or 0.26%, to 17,621.18 at the opening bell.
(Reporting by Lisa Mattackal in Bengaluru; Editing by Maju Samuel)