Wall St opens lower after AI rout; SpaceX worries hit telecoms

FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2026.

FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2026. (REUTERS/Brendan McDermid/File Photo)


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Oct 23 — Wall Street's main ​indexes opened lower on Friday as ‌caution prevailed after a ⁠sharp selloff ​in AI-linked ⁠stocks, while telecom ‌stocks ‌tumbled on fears that intensified ⁠competition ⁠from SpaceX could erode their market share.

The Dow Jones Industrial Average fell 171.3 ‌points, or ​0.32%, at the open to 52,696.7. The S&P 500 fell 26.2 points, or 0.34%, at the open ​to ‌7,637.18, while ‌the Nasdaq ⁠Composite dropped 114.9 points, or 0.44%, to 25,893.953 at ‌the opening bell.

(Reporting ​by ‌Ragini Mathur ⁠in ​Bengaluru; Editing by Shinjini ​Ganguli)

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