Wall St. opens lower on China tariff blow

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Wall St. opens lower on China tariff blow

FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., August 13, 2019. REUTERS/Eduardo Munoz

(Reuters) – Wall Street opened lower on Friday, as China revealed retaliatory tariffs against about $75 billion worth of U.S. goods that intensified trade tensions ahead of a much-anticipated speech by Federal Reserve Chair Jerome Powell.

The Dow Jones Industrial Average .DJI fell 118.03 points, or 0.45%, at the open to 26,134.21. The S&P 500 .SPX opened lower by 11.88 points, or 0.41%, at 2,911.07. The Nasdaq Composite .IXIC dropped 47.74 points, or 0.60%, to 7,943.65 at the opening bell.

Reporting by Akanksha Rana in Bengaluru; Editing by Shounak Dasgupta