Wall St opens lower, Powell’s testimony to Congress in focus

US stock indexes opened lower on Wednesday after a rally in the previous session, with investor focus squarely on Federal Reserve Chair Jerome Powell‘s congressional testimony for cues on interest rate hikes and the state of the economy.

The Dow Jones Industrial Average fell 177.68 points, or 0.58%, at the open to 30,352.57.

The S&P 500 opened lower by 30.90 points, or 0.82%, at 3,733.89, while the Nasdaq Composite dropped 127.35 points, or 1.15%, to 10,941.95 at the opening bell.

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