US shares open lower ahead of Powell's testimony

Wednesday, 24. February 2021 15:31

Stock markets in the United States started the session with losses on Wednesday as investors are monitoring news coming from the Federal Reserve Chairman Jerome Powell who will testify in the US Congress later in the day. Also, it is expected that US Senator Josh Hawley proposes an alternative to the federal minimum wage raise that the Democrats are seeking. In other news, more than 150 business executives from some of the biggest US companies supported President Joe Biden-proposed coronavirus economic relief plan.

The Dow Jones was down by 0.12% at the open with Microsoft Corp. falling 1.14%. The S&P 500 lost 0.25% at the same time. The Nasdaq 100 dropped 0.80% at 9:30 am ET, as Verisk Analytics decreased by 5.44% on both indexes.

The euro traded 0.12% lower compared to the dollar and sold for 1.21347 at 9:23 am ET.

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