US stocks drift lower during opening trade

Major US equity indices witnessed a weaker opening amid quieter trading session on the last day of the week, primarily weighed down by the recent slump in technology stocks.

With a loss of around 15-points to 6,150, tech-heavy Nasdaq Composite Index remains track for a weekly loss, while the Dow Jones Industrial Average was down nearly 25-points to 21,336. Meanwhile, the broader S&P 500 Index edged lower by over 5-points to 2,427.

On the economic data front, housing starts fell 5.5% to an annual rate of 1.09 million in May, the lowest level in eight months and did little to boost investors' sentiment.

Meanwhile, market remained concerned over possibilities of tighter Fed monetary policy stance, especially after the latest hawkish decision on Wednesday. This combined with the ongoing weakness in technology stocks has been contributing to the prevalent risk-averse mood and weighing on riskier-assets - like equities.

Volatility could pick-up later during the day in wake of a quadruple-witching day, which means the simultaneous expiration of stock-index futures, stock index options, stock options and single stock futures.