US stocks open lower

Reported by AAP
Tuesday, September 23, 2014
Billionaire busts: The men who lost it allA Brazilian businessman has become a "negative billionaire" after his commodity empire collapsed following allegations of insider trading.

US stocks opened lower after more poor data on the eurozone economy sent European markets tumbling.

New US rules meant to stifle tax inversions also spurred selling, as they raised questions about tens of billions of dollars worth of mergers that had excited the markets when first announced.

Five minutes into trade, the Dow Jones Industrial Average was down 40.84 points (0.24 per cent) to 17,131.87.

The broad-based S&P 500 fell 5.04 (0.25 per cent) to 1,989.25, while the tech-rich Nasdaq Composite Index lost 10.96 (0.24 per cent) to 4,516.73.

07/03/2015 03:01Sydney, Australia. 7 March,2015