Market Opening Slump: U.S.-China Truce Euphoria Fades
Wall Street’s main indexes opened lower as the initial excitement over the U.S.-China tariff truce diminished. UnitedHealth's stock faced pressure due to an investigation by the Department of Justice over alleged fraud. The Dow, S&P 500, and Nasdaq Composite all witnessed significant drops at the opening bell.
In a marked shift from earlier optimism, Wall Street's primary indexes started Thursday morning in decline. The excitement over the U.S.-China tariff truce appears to be fading quickly.
Also impacting the market, UnitedHealth found its stock under pressure following reports of the Department of Justice initiating an investigation into potential fraud by the health insurance giant.
At the start of trading, the Dow Jones Industrial Average fell by 273.1 points to 41,777.98, signifying a 0.65% drop. Simultaneously, the S&P 500 index decreased by 22.8 points to 5,869.82, and the Nasdaq Composite Index saw a decline of 115.6 points to 19,031.243.
(With inputs from agencies.)
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