US opens lower with all eyes on Bessent's testimony

 Major stock equities on Wall Street opened lower on Tuesday as investors awaited Treasury Secretary Scott Bessent's congressional testimony, which is expected to address rising energy prices, inflation, and the Federal Reserve's monetary policy ahead of the central bank's decision later this week.

The Treasury secretary will likely discuss the Iran war, which has cost Washington $33.4 billion so far, while lawmakers could press Bessent on the national debt, which topped $40 trillion last month. The downbeat sentiment was further weighed down by concerns over the pace of AI development, after former Vice President Kamala Harris called for federal oversight of the technology.

The Dow Jones Industrial Average was down by 0.21%, with Procter & Gamble Co. dropping 1.37%. The Nasdaq 100 slipped 0.09% as Axon Enterprise plunged 7.44%. The S&P 500 declined 0.06% with Coinbase Global Inc. falling 5.88%.

The euro lost 0.06% against the greenback, selling for 1.15423.

https://breakingthenews.net/Article/US-opens-lower-with-all-eyes-on-Bessent's-testimony/67109125