NEW YORK: Wall Street stocks opened lower Wednesday, extending a period of jitteriness ahead of earnings from major chipmaker Nvidia and Federal Reserve meeting minutes.
The Nasdaq was especially weak on Tuesday, with investors fearful that Nvidia’s results would fall short of outsized expectations over artificial intelligence.
Tech shares remained on the back foot early Wednesday following a disappointing outlook from cybersecurity company Palo Alto Networks, which sank nearly 25 percent.
Nasdaq leads Wall St losses as Nvidia slides
About 10 minutes into trading, the Dow Jones Industrial Average was down 0.3 percent at 38,441.54.
The broad-based S&P 500 also declined 0.3 percent to 4,961.67, while the tech-rich Nasdaq Composite Index dropped 0.5 percent to 15,549.11.
Markets will also digest minutes from the latest Fed meeting, while optimism that the US central bank will imminently cut interest rates has waned.
Among other stocks, Amazon rose 1.7 percent after S&P Dow Jones Indices announced that the online shopping giant would join the prestigious Dow index, replacing Walgreens Boots Alliance, which fell 3.4 percent.