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Wall St opens lower as rate-cut rally fizzles; FedEx slides

Published 12/20/2023, 09:35 AM
Updated 12/20/2023, 09:41 AM
© Reuters. FILE PHOTO: A street sign for Wall Street hangs in front of the New York Stock Exchange May 8, 2013. REUTERS/Lucas Jackson/File Photo

(Reuters) - Wall Street's main indexes opened lower on Wednesday as investors took a breather from a rally that was sparked by the Federal Reserve's likely pivot to a dovish policy, while FedEx (NYSE:FDX) tumbled after issuing a grim outlook.

The Dow Jones Industrial Average fell 37.79 points, or 0.10%, at the open to 37,520.13. The S&P 500 opened lower by 3.64 points, or 0.08%, at 4,764.73, while the Nasdaq Composite dropped 29.86 points, or 0.20%, to 14,973.36 at the opening bell.

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