NEW YORK, Feb. 13 (Xinhua) -- U.S. stocks opened lower on Tuesday as choppy trading continued after sharp gains in the previous session.
Shortly after the opening bell, the Dow Jones Industrial Average lost 88.61 points, or 0.36 percent, to 24,512.66. The S&P 500 decreased 9.76 points, or 0.37 percent, to 2,646.24. The Nasdaq Composite Index was down 23.97 points, or 0.34 percent, to 6,957.99.
U.S. equities on Monday recovered some losses from last week's heavy sell-off. All three major indices slumped over 5 percent last week, notching their worst weekly performance in about two years.
Traders said that the investors' move to lock in profits, possibly some computer-programmed trading, combined with concerns about interest rates have sent the equities into correction territory.
There was no major data due on Tuesday, as investors were awaiting the closely-watched Consumer Price Index scheduled to be released on Wednesday to get more information on the country's inflation level.
Moreover, Cleveland Federal Reserve President Loretta Mester said on Tuesday that the recent market rout is not impacting the central bank's economic outlook.
"While a deeper and more persistent drop in equity markets could dash confidence and lead to a pullback in risk-taking and spending, the movements we have seen are far away from this scenario," she said. Enditem
