NEW YORK: US stocks opened lower for a second day Wednesday after the run that saw new Dow and S&P records and a 15-year high for the Nasdaq on Monday.
Five minutes into trade, the Dow Jones Industrial Average was off 71.63 points (0.39 percent) to 18,131.74.
The broad-based S&P 500 fell 8.89 (0.42 percent) to 2,098.89, while the tech-rich Nasdaq Composite dropped 18.14 (0.36percent) to 4,961.77.
Dull data on hiring and auto sales in February — though severe weather could have contributed — underscored the feeling of caution in the market going forward, analysts said.
After Tuesday’s pullback, said thomas O’Hare of Briefing.com, there is an “underlying sense that the market is due for a period of consolidation after its tremendous run in February.”