Investing.com - Stocks in New York opened lower Thursday, extending the recent selloff, although weaker-than-expected retail inflation gave bulls some relief.
The Dow fell 107.19, or 0.42%, to 25,491.55 at the start of trading, while the broader S&P 500 index lost 15.76, or 0.57%, to 2,769.92. The Nasdaq Composite, which has been the hardest hit of late, was down 37.69, or 0.51%, to 7,384.36.
Tame consumer price index numbers gave buyers a glimmer of sunshine after the previous day’s rout, which saw Wall Street’s biggest one-day loss in eight months.
Treasury yields, which many have pointed to as a catalyst for the stock market carnage, were down as the stock market opened.
The 10-year yield was at 3.195% just before the CPI numbers were released, then dropped sharply, hitting a low of 3.155% before rebounding somewhat.
Tech stocks were hammered in yesterday’s session and still found difficulty gaining traction today.
Among other active individual stocks, shares of Dow component Walgreens Boots Alliance (NASDAQ:WBA) slumped 2.6% after the drugstore chain beat fiscal fourth-quarter profit expectations, but fell short on sales.
Delta Air Lines (NYSE:DAL) rose 2.4% after the No. 2 U.S. airline reported a third-quarter profit that beat analysts' estimates and forecast total unit revenue, a closely watched performance metric, to increase between 3% and 5% in the fourth quarter.
In Europe, Germany’s DAX fell 0.7%, while in France the CAC 40 decreased 1.2% and in London the FTSE 100 was down 1.5%. Meanwhile, the pan-European Euro Stoxx 50 lost 1%, while Spain’s IBEX 35 slumped 0.9%.
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