(MENAFN- The Peninsula) US stocks dipped in opening trade Wednesday, following most European equity markets lower on dampened hopes for an imminent deal to avert a Greek debt default.
Five minutes into trade, the Dow Jones Industrial Average stood at 18,097.49, down 46.58 points (0.26 percent).
The broad-based S&P 500 dipped 1.94 (0.09 percent) to 2,122.26, while the tech-rich Nasdaq Composite Index fell 4.22 (0.08 percent) to 5,155.88.
Equity markets in France, Germany and other European capitals were flagging on reports of a rift between the International Monetary Fund and Greece on the country's latest reform plan.
The Commerce Department reported that the first-quarter contraction of the US economy was not as bad as previously thought. Gross domestic product shrank at an annual rate of 0.2 percent in the period, much less than the 0.7 percent in the previous estimate.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.