NEW YORK U.S. stocks opened lower on Wednesday, putting the S&P 500 on track for a third consecutive decline, as investors remained on edge given the lack of details on U.S. budget, or so-called fiscal cliff, talks.
The Dow Jones industrial average dropped 53.22 points, or 0.41 percent, to 12,824.91. The Standard & Poor's 500 Index dropped 7.44 points, or 0.53 percent, to 1,391.50. The Nasdaq Composite Index dropped 15.70 points, or 0.53 percent, to 2,952.09.
(Reporting by Chuck Mikolajczak; Editing by Kenneth Barry)
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What seemed like a possibility for the Nifty to cross the 8,000 mark just two weeks ago has now turned out to be a far-fetched dream. A 7,950-8,000 range could be used to book partial profits and re-enter closer to 7,750-7,800 for the next couple of weeks. The next big trigger would be the arrival of monsoons, writes Ambareesh Baliga. Read