US STOCKS SNAPSHOT-Wall St opens lower as Meta Platforms, economic data weigh

U.S. stocks opened sharply lower on Thursday, dragged down by growth stocks after dour quarterly results from Meta Platforms, while signs of persistent inflation dampened hopes of the Federal Reserve cutting interest rates anytime soon.

The Dow Jones Industrial Average fell 408.83 points, or 1.06%, at the open to 38,052.09.

The S&P 500 opened lower by 51.75 points, or 1.02%, at 5,019.88, while the Nasdaq Composite dropped 337.49 points, or 2.15%, to 15,375.26 at the opening bell.