US stocks open lower after 3-day rally

Written By Unknown on Jumat, 28 Juni 2013 | 21.30

US stocks fell in opening trade on Friday after a three-day rally, with shares of Blackberry leading the way as the struggling phone maker reported a surprise quarterly loss.

Five minutes into trade, the Dow Jones Industrial Average was down 62.71 points (0.42 per cent) to 14,961.78.

The broad-based S&P 500 lost 5.31 points (0.33 per cent) to 1,607.89, while the tech-rich Nasdaq Composite Index fell 11.91 (0.35 per cent) to 3,389.95.

Blackberry shares took a heavy hit, falling 26 per cent to $10.74, after turning in a surprise $US84 million ($A90.93 million) loss for the quarter to June 1, despite a pickup in revenues from the launch of the company's new smartphone.


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