Investing.com – Wall Street opened lower on Thursday morning after the Dow composite reached a record high on Wednesday.
The S&P 500 fell 10 points or 0.41% as of 10:15 AM ET (3:15 PM GMT) while the Dow Jones Composite decreased 88 points or 0.82% after it reached 23,000 for the first time on Wednesday. Tech heavy NASDAQ Composite slumped 53 points or 0.82%.
The technology sector was the biggest loser after the morning bell, with Apple (NASDAQ:AAPL) stock falling 2.38% amid speculation that its iPhone 8 orders could fall by 50% and online retail giant Amazon (NASDAQ:AMZN) down 1.00%. eBay Inc (NASDAQ:EBAY) shares fell 2.66% on the a lackluster third quarter earnings results while biotechnology firm MannKind Corp (NASDAQ:MNKD) dropped 8.47%.
Communications firm Verizon Communications Inc (NYSE:VZ) rose 2.77% after its earnings were in line with forecasts while Adobe Systems Incorporated (NASDAQ:ADBE) skyrocketed 8.90% after its 2018 revenue forecast beat analyst expectations.
Health care stocks rose, with medical technology firm CAS Medical Systems Inc (NASDAQ:CASM) medical systems increasing 5.04% and pharmaceutical company Oasmia Pharmaceutical AB (NASDAQ:OASM) surging 5.21%.
Meanwhile Chinese consumer finance firm Qudian Inc (NYSE:QD) rose 6.70% after its Initial Public Offering.
European stocks were held down by linger Spanish political uncertainty and an unexpected fall in UK retail sales. Germany’s DAX was down 65 points or 0.50% while in Spain the IBEX 35 decreased 79 points or 0.71% and in France the CAC 40 fell 19 points or 0.36%. In London, the FTSE 100 slumped 21 points or 0.28% while the pan-European Euro Stoxx 50 inched down 17 points or 0.48%.
In commodities, gold futures rose 0.49% to $1,289.16 a troy ounce while crude oil futures decreased 0.75% to $51.65 a barrel. The U.S. dollar index, which measures the greenback against a basket of six other major currencies, fell to 92.96.