Cairo – Mubasher: Wall Street opened Friday's trading in red, shrugging off positive U.S. consumer spending data.
U.S. consumer spending rose in November, suggesting enough momentum in the economy for the Federal Reserve to raise interest rate next week for the first time in nearly a decade.
Dow Jones industrial average fell by 1.27%, and Nasdaq Composite dropped 1.05%.
S&P 500 inched down 0.13%, and Global Dow lost 1.19%.
