Stocks open lower on Wall Street following a big 3-day rally
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<p>Shares of Caterpillar and 3M were each down nearly 10 percent in mid-morning trading Oct. 23, 2018, and that was a big reason why the Dow plunged more than 500 points. Photo by Michael Nagle/Bloomberg via Getty Images</p>
NEW YORK (AP) — Stocks are opening lower on Wall Street as the market gives back some of the gains it piled up over the past three days.
Major indexes are down about 3% in early trading Friday. The S&P 500 had shot up 17% over the previous three days as traders became hopeful that Congress would pass a $2 trillion coronavirus relief package.
The bill has made it through the Senate and is expected to pass the House soon. Even after the rally this week the market is down 25% from the peak it reached a month ago. European markets also fell.
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