U.S. equities opened lower on Wednesday, July 29: Dow Jones Industrial Average down 398.29 points (-0.76%) at 52,349.03; S&P 500 down 10.87 points (-0.15%) at 7,418.35; Nasdaq Composite down 47.14 points (-0.19%) at 24,829.77.

Lucid Group shares rose about 24% on Tuesday after a regulatory filing showed Prince Alwaleed bin Talal bought roughly 19.5 million shares for $129.5 million, lifting his stake to 5%. A spokesman said the purchase followed a recent sharp decline in Lucid's share price. Markets viewed the investment as a confidence vote that could ease investor concerns after earlier cash-pressure and loss-driven bankruptcy fears; Lucid denied bankruptcy reports but confirmed it had hired AlixPartners and previously suffered a one-day 57% plunge. The company still faces challenges on sales growth, profitability and cash flow.

Japan Meteorological Agency: an earthquake occurred in the Amakusa region of Japan.