US: Nasdaq slips as growth stocks retreat ahead of economic data

THE Nasdaq slipped at the open on Wednesday (Mar 13) as rate-sensitive growth stocks eased ahead of economic data this week, which would provide more insight on the timing of the Federal Reserve’s interest-rate cuts.

The Dow Jones Industrial Average rose 49.09 points, or 0.13 per cent, at the open to 39,054.58.

The S&P 500 opened lower by 1.78 points, or 0.03 per cent, at 5,173.49, while the Nasdaq Composite dropped 45.53 points, or 0.28 per cent, to 16,220.11 at the opening bell. REUTERS