Wall Street Opens Lower, S&P 500 on Pace to Confirm Bear Market

A Wall Street sign outside the New York Stock Exchange in the Manhattan borough of New York, on April 16, 2021. Carlo Allegri/Reuters

Wall Street’s main indexes opened sharply lower on Monday with the S&P 500 on course to confirm a bear market on growing fears that aggressive interest rate hikes could tip the economy into recession.

At 09:37 a.m. the Dow Jones Industrial Average fell 563.56 points, or 1.80 percent, to 30,829.23, the S&P 500 lost 87.03 points, or 2.23  percent, to 3,813.83 and the Nasdaq Composite lost 284.93 points, or 2.51  percent, to 11,055.10.