Nasdaq down 0.70% (Il Sole 24 Ore Radiocor) - New York, 04 Sep - US shares opened lower as growth concerns continued to spook the market ahead of a key jobs report later this week.

Wall Street suffered its worst day yesterday since August 5 as jitters over weak manufacturing data sent indexes lower.

As inflation eases, investors are turning their attention to slowing economic growth and the possibility it might tip the economy into a recession or a sharp downturn. The labor market is also a key cause for concern after recent data signalled unemployment could be starting to pick up.

A flurry of jobs market data this week, starting with today's job openings and labor turnover (JOLTS) survey, will shed more light on how the Federal Reserve might plan its much-expected monetary pivot.

Several Federal Reserve policymakers have pointed to the labour market as a cause for concern, signalling a cut in interest rates might be appropriate to support payrolls.

Investors are currently betting on a 25, or even 50, basis point cut at the central bank's next monetary policy meeting in September.

On the stocks front, shares in Nvidia were down 2.3% in early trade after a report it had been subpoenaed by the Justice Department as it seeks evidence of antitrust violations.

Zscaler shares slumped 17% after the cybersecurity company disappointed on its outlook.

Just after the opening bell the Dow Jones was down 22.07 points, or 0.05%, at 40,914.86, the S&P 500 was down 20.68 points, or 0.37%, at 5,508.25 while the Nasdaq was down 120.32 points, or 0.70%, at 17,015.98.

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(RADIOCOR) 04-09-24 15:38:18 (0399) 5 NNNN