US STOCKS SNAPSHOT-Wall St opens lower as megacaps drag

BY Reuters | TREASURY | 05/08/24 09:33 AM EDT

May 8 (Reuters) - U.S. stock indexes opened lower on Wednesday, dragged down by megacap stocks including Tesla as Treasury yields rebounded with investors seeking more clarity on the Federal Reserve's plans for interest rate cuts.

The Dow Jones Industrial Average fell 65.4 points, or 0.17%, at the open to 38818.9. The S&P 500 fell 18.7 points, or 0.36%, at the open to 5168.98?, while the Nasdaq Composite dropped 106.5 points, or 0.65%, to 16226.067 at the opening bell. (Reporting by Sruthi Shankar in Bengaluru; Editing by Shinjini Ganguli)

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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