Wall Street Opens Lower as Credit Suisse Renews Bank Worries

The Wall Street entrance to the New York Stock Exchange (NYSE) is seen in New York City on Nov. 15, 2022. (Brendan McDermid/Reuters)

Wall Street’s main indexes opened lower on Wednesday as turbulence at Credit Suisse renewed fears of a banking crisis, while U.S. economic data kept alive hopes of a less aggressive monetary policy move by the Federal Reserve next week.

The Dow Jones Industrial Average fell 395.53 points, or 1.23 percent, at the open to 31,759.87. The S&P 500 opened lower by 42.55 points, or 1.09 percent, at 3,876.74, while the Nasdaq Composite dropped 136.98 points, or 1.20 percent, to 11,291.17 at the opening bell.