© Reuters. FILE PHOTO: Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. REUTERS/Mike Segar/File Photo
(Reuters) – The benchmark fell below the 3,900 mark at the open on Friday, breaching a level that traders considered as a key support, after a profit warning from delivery firm FedEx (NYSE:) spooked investors already concerned about aggressive rate hikes.
The benchmark index is now 5.8% above its mid-June closing low as a summer rally in Wall Street continues to unravel amid fears of steep increases in U.S. interest rates and deterioration in earnings growth.
Wall Street’s main indexes were trading at two-month lows, with the S&P 500 down 20.40 points, or 0.52%, at 3,880.95.
The fell 95.21 points, or 0.31%, at the open to 30,866.61, and the dropped 151.15 points, or 1.31%, to 11,401.21 at the opening bell.
