US stock indices edged lower on Friday after President Donald Trump nominated former Federal Reserve Governor Kevin Warsh to head the central bank.
The move comes as President Trump continues his long-standing campaign for lower interest rates.
Warsh, the President’s pick to succeed Jerome Powell, has previously been critical of the current Chair’s leadership.
At 09:30 a.m. ET, the Dow Jones Industrial Average fell 146.89 points, or 0.32%, to 48,912.80, the S&P 500 lost 23.24 points, or 0.33%, to 6,945.77 and the Nasdaq Composite lost 107.88 points, or 0.43%, to 23,577.24.
Apple stock fell 1.5% despite the iPhone maker reported a stronger profit for the December quarter than analysts expected.
