Wall Street opens lower as Amazon buy hits drug stocks

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(Reuters) – Amazon’s move to entrench itself in the health sector sent drug stocks sliding on Thursday, but gains in financial and technology stocks, helped Wall Street keep its footing.

FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., June 27, 2018. REUTERS/Brendan McDermid

The Dow Jones Industrial Average fell 53.40 points, or 0.22 percent, at the open to 24,064.19. The S&P 500 opened lower by 0.94 points, or 0.03 percent, at 2,698.69. The Nasdaq Composite dropped 6.97 points, or 0.09 percent, to 7,438.11 at the opening bell.

Reporting by Sruthi Shankar in Bengaluru; Editing by Shounak Dasgupta

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