New York Aug 18 (IANS) US stocks opened lower on Friday as investors grew worried amid the Trump administration s strained relationship with business leaders.
US President Donald Trump said earlier this week that he was disbanding both the Manufacturing Council and Strategy and Policy Forum as business leaders resigned from the council over his remarks on the Charlottesville violence.
Investors have been keeping a close eye on the news which has weighed on the market in these two sessions.
On Thursday the Dow Jones Industrial Average suffered its biggest decline in three months Xinhua reported.
"Maybe it s just us but it seems an equity correction is clearly overdue if traders just yesterday (Thursday) started worrying about Congress not working with Trump " said Chris Low chief economist at FTN Financial on Friday.
US equities have posted solid gains since the election day last year on high hopes for Trump s policies.
But investors now wondered whether President Trump would be able to move forward his economic agenda.
Meanwhile European stocks suffered losses following double terrorist attacks in Barcelona in which 14 people were killed and more than 100 others injured.
Shortly after Friday s opening bell the Dow Jones Industrial Average lost 22.88 points or 0.11 percent to 21 727.85. The S&P 500 shed 4.70 points or 0.19 per cent to 2 425.31. The Nasdaq Composite Index was down 1.58 points or 0.03 per cent to 6 220.34.
--IANS
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