Wall Street Opens Lower on Global Slowdown Fears

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 lower on Monday as fears over China’s COVID-19 outbreaks spooked investors already concerned about aggressive U.S. interest rate hikes.

The Dow Jones Industrial Average fell 79.75 points, or 0.24 percent, at the open to 33,731.65. The S&P 500 opened lower by 16.44 points, or 0.38 percent, at 4,255.34, while the Nasdaq Composite dropped 90.12 points, or 0.70 percent, to 12,749.17 at the opening bell.