Wall Street’s main indexes opened lower on Friday as investor sentiment remained damp due to the hawkish interest-rate outlook by Federal Reserve Chair Jerome Powell in his two-day congressional testimony.

The Dow Jones Industrial Average fell 111.05 points, or 0.33%, at the open to 33,835.66.

Wall St turns cautious ahead of Powell’s second day of testimony

The S&P 500 opened lower by 27.72 points, or 0.63%, at 4,354.17, while the Nasdaq Composite dropped 146.51 points, or 1.07%, to 13,484.10 at the opening bell.