U.S. stocks open lower, extending last week’s decline

U.S. stocks opened lower Monday, extending last week’s decline, as investors reassess the market’s recent rally ahead of Federal Reserve Chair Jerome Powell’s speech in Jackson Hole, Wyo. on Friday. The Dow Jones Industrial Average DJIA, -1.47% was trading down 1.1% soon after the opening bell, while the S&P 500 SPX, -1.79% fell 1.3% and the Nasdaq Composite COMP, -2.14% dropped 1.5%, according to FactSet data, at last check. Some investors are questioning whether the market may have gotten ahead of itself in anticipating the Fed could become less aggressive raising interest rates amid a slowing economy. Last week, the Dow slipped 0.2% while the S&P 500 fell 1.2% and the Nasdaq dropped 2.6%, with both the S&P 500 and Nasdaq snapping a four-week stretch of gains.