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US markets open lower as Verizon buys Yahoo web assets

AFP

US markets opened slightly lower on Monday morning as investors absorbed word of Verizon Communications's acquisition of the web assets of troubled tech giant Yahoo for $4.83 billion.

About 10 minutes into trade, Dow Jones Industrial Average was down 0.3 percent at 18,516.91.

The S&P 500 lost 0.3 percent at 2,169.50, and the Nasdaq Composite lost 0.1 percent at 5,094.57.

Yahoo's shares were down 1.4 percent in early trading at $38.82 after the long-flagged deal was announced, while Verizon also lost 0.5 percent at $55.82.

Markets were awaiting word of this week's decision by the Federal Reserve on whether to raise its key interest rate. Policy makers were expected to keep rates unchanged out of concern for a fragile recovery.

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