US stocks opened lower on Thursday as Alphabet’s results rekindled worries about soaring AI costs, while investors assessed fresh inflation data following the Federal Reserve’s decision to keep interest rates unchanged.

The Dow Jones Industrial Average fell 389.0 points, or 0.74%, to 52,086.13 at the open. The S&P 500 fell 44.4 points, or 0.57%, to 7,699.61​, while the Nasdaq Composite dropped 348.0 points, or 1.31%, to 26,201.823.

(Reporting by Shashwat Chauhan in Bengaluru; Editing by Shilpi Majumdar)