US shares start lower amid $43B Discovery, WarnerMedia deal

Monday, 17. May 2021 15:31

Stocks in the United States started Monday's session in the red, continuing a volatile trend from last week. In company news, AT&T Inc. announced the merger of WarnerMedia with Discovery worth $43 billion. Paymentus Holdings Inc. said it is looking to go public on the New York Stock Exchange with a valuation of up to $2.43 billion. United Airlines Inc. revealed plans to add over 400 daily flights to its July schedule as the COVID-19 restrictions are gradually lifted worldwide. Meanwhile, the European Union agreed to temporarily suspend an increase in tariffs on US steel and aluminum.

The Dow Jones fell 0.17% at 9:30 am ET, as the Walt Disney Co. dropped 0.96%. The S&P 500 lost 0.21%, with KLA Corp. declining by 2.58%. The Nasdaq 100 was down 0.57% at the same time, also led by KLA Corp.

The euro was flat against the dollar at 9:32 am ET, selling for 1.21483.

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