PARIS (Reuters) – The New York Stock Exchange opened lower on Thursday, as technology stocks retreated under pressure from geopolitics.
In early trading, the Dow Jones index lost 18.52 points, or 0.07%, to 40,935.96 points, and the broader Standard & Poor’s 500 fell 1.00% to 5,610.46 points.
The Nasdaq Composite fell 1.70%, or 310.25 points, to 18,199.085.
Technology is down sharply on global indices as the Biden administration considers invoking the “foreign direct goods rule” to unilaterally restrict exports to China of products made using American technology.
Monetary policy comments expected today also call for caution, while the latest industrial production figures, better than expected, show that American economic activity remains resilient.
Monetary policymakers Thomas Barkin and Christopher Waller are scheduled to speak on Thursday.
The results also stimulate discussions.
In terms of values, Johnson & Johnson beat expectations for its second-quarter profit and sales on Wednesday, but only grew by 0.8%.
Nvidia falls by 3.7%.
(Written by Corentin Chappron, edited by Kate Entringer)
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