Wall Street tumbles at open on retail gloom, tech concerns

    A traders works on the floor at the New York Stock Exchange (NYSE) in New York, U.S., November 20, 2018. REUTERS/Brendan McDermid

    (Reuters) – U.S. stocks opened sharply lower on Tuesday as poor forecasts from retailers for the holiday quarter fed into a market driven lower this week by concerns about demand for iPhones.

    The Dow Jones Industrial Average .DJI fell 398.76 points, or 1.59 percent, at the open to 24,618.68.

    The S&P 500 .SPX opened lower by 36.13 points, or 1.34 percent, at 2,654.60. The Nasdaq Composite .IXIC dropped 161.05 points, or 2.29 percent, to 6,867.43 at the opening bell.