US stock market opens lower as Hurricane Irma looms

By Ovunc Kutlu

NEW YORK

The U.S. stock market opened lower Friday as the state of Florida braces for Hurricane Irma.

The Dow Jones fell 38 points to begin the day at 21,745 points, and the S&P 500 lost 4 points to open at 2,460 points.

The Nasdaq decreased nine points to start the last trading day of the week at 6,388 points.

After devastating the Caribbean on Wednesday, Irma was reported heading to the U.S. mainland, and could cost up to $125 billion in damages if it hits Florida, according to research by the financial services company Credit Suisse on Wednesday.

Hurricane Harvey, which hit the state of Texas last month, was estimated to cause $180 billion of damages.