Wall Street Opens Lower on Growing Economic Downturn Worries

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City on Sept. 27, 2022. (Brendan McDermid/Reuters)

U.S. stock indexes opened lower on Thursday as worries of a global economic downturn from aggressive central bank rate hikes and risks of potential contagion from a turmoil in UK markets turned investors risk averse.

The Dow Jones Industrial Average fell 170.0 points, or 0.57 percent, at the open to 29,513.73. The S&P 500 fell 32.0 points, or 0.86 percent, at the open to 3,687.01​, while the Nasdaq Composite dropped 157.2 points, or 1.42 percent, to 10,894.436 at the opening