U.S. stock indexes opened lower on Wednesday, extending recent declines as trade tensions between the U.S. and China show no signs of easing.
The Office of the U.S. Trade Representative said early on Wednesday that tariffs on $200 billion of China goods would increase from 10% to 25%, effective Friday, a formal anticipated step that underlines fears of a full-blown trade war.
At the opening bell, the Dow Jones Industrial Average fell around 20 points to 25,889.90, the S&P 500 was off 0.2% to 2,873.47 and the Nasdaq Composite was down 0.2% to 7,926.94. In company news, shares of ride-hailing company Lyft Inc. fell more than 3% after the company reported a worse-than-expected first quarter loss.
Source : MarketWatch