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May 3 (Reuters) - Wall Street opened lower on Tuesday as weak Chinese economic data and a surprise rate cut by the Australian central bank raised concerns about the health of the global economy.
The Dow Jones industrial average fell 50.75 points, or 0.28 percent, to 17,840.41, the S&P 500 lost 9.05 points, or 0.43 percent, to 2,072.38 and the Nasdaq composite dropped 34.65 points, or 0.72 percent, to 4,782.95.
Reporting by Tanya Agrawal; Editing by Anil D'Silva