U.S. stocks open lower after 3 days in the green as GOP seen retaking House by narrow margin

U.S. stocks opened lower on Wednesday after Republicans were seen retaking the House, but by a narrower-than-expected margin, while a runoff election for Georgia’s U.S. Senate seat appears likely. The S&P 500 SPX, -0.91% fell 26 points, or 0.7%, to 3,801 after the open, while the Dow Jones Industrial Average DJIA, -0.

87% shed 187 points, or 0.6%, to 32,973. The Nasdaq Composite COMP, -1.15% retreated 96 points, or 0.9%, to 10,519. Investors appeared to like the layoff announcement from Facebook parent Meta Platforms, META, +6.39% as the stock rallied at the open, while weak earnings from media companies including Walt Disney Company DIS, -11.36% helped weigh on the industry.

It’s fake. There was no GOP Red Wave.

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