Stocks slip as markets eye cautious Fed

(Reuters) – Wall Street’s main indexes opened lower on Friday, with investors pausing after strong rallies on the S&P 500 and the Nasdaq, as they weighed hawkish Federal Reserve projections against the backdrop of a cooling economy.

The Dow Jones Industrial Average fell 118.71 points, or 0.31%, at the open to 38,528.39. The S&P 500 opened lower by 9.66 points, or 0.18%, at 5,424.08, while the Nasdaq Composite dropped 46.38 points, or 0.26%, to 17,621.18 at the opening bell.