US stocks open 1% lower in wake of global rout

US stocks open 1% lower in wake of global rout

US stocks sank more than 1 percent on opening Thursday, hit by a China-driven global markets sell-off and the Federal Reserve’s announcement that it could begin slowing its QE stimulus this year.

Five minutes into trade, the Dow Jones Industrial Average was down 159.54 points (1.06 percent) at 14,952.65.

The broad-based S&P 500 fell 19.45 (1.19 percent) to 1,609.48, while the tech-rich Nasdaq Composite Index tumbled 43.10 (1.25 percent) to 3,400.10.

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