New York (Reuters)
The Standard & Poor’s 500 Index fell below 3,900 points at the start of trading on Wall Street yesterday, breaking a level traders consider important after a profit warning from FedEx Shipping Services alarmed investors and raised their concerns about rising interest rates.
The Wall Street indices hit their lowest level in two months, as the Standard & Poor’s 500 fell 20.40 points, or 0.52%, to 3880.95 points. The Dow Jones Industrial Average fell 95.21 points, or 0.31 percent, to open at 30,866.61 points.
The Nasdaq Composite Index fell 151.15 points, or 1.31 percent, to 11,401.21 points at the opening.
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