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US stocks open lower as technology comes back down

Major US stock indices opened lower on Wednesday, as technology stocks continued to be affected by concerns about valuations, while some cyclical stocks rose in anticipation of a recovery.

The Nasdaq Composite Index fell 64.9 points, equivalent to 0.48 percent, to 13,400.254 points, declining for the sixth time in the last seven sessions.

The Dow Jones Industrial Average fell 37.6 points, or 0.12 percent, to record 31,499.75 points, while the Standard & Poor's 500 Index fell 7.7 points, or 0.20 percent, to 3,873.71 points.

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