Stocks opened lower today on Wall Street as traders braced for news of a likely war with Iraq within days and looked for safe-haven investments.
The Dow Jones industrials fell 59.91 points (0.76 per cent) to 7,799.80 and the Nasdaq shed 12.17 points (0.91 per cent) to 1,328.16 in the first trades.
"With UN weapons inspectors advised to leave Iraq, it appears the military campaign is about to begin," said Mr Larry Wachtel, equity strategist at Prudential Securities.
"All the safe haven areas are surging this morning with funds flowing into US treasury bonds and gold and out of the dollar."
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AFP