Wall Street's main indexes opened lower on Friday, with investors pausing after strong rallies on the S&P 500 and the Nasdaq, as they weighed hawkish Federal Reserve projections against the backdrop of a cooling American economy.

The Dow Jones Industrial Average fell 118 points at the open to 38,528.

The S&P 500 opened lower by nine points at 5,424, while the Nasdaq Composite dropped 46 points to 17,621 at the opening bell. (Reuters)