Wall Street Opens Lower on Recession Fears

Wall Street Opens Lower on Recession Fears
A trader works on the floor of the New York Stock Exchange (NYSE) in New York City on June 16, 2022. (Brendan McDermid/Reuters)
Reuters
7/5/2022
Updated:
7/5/2022

Wall Street’s main indexes opened lower on Tuesday, with investors fretting about the possibility of an economic recession as central banks across the world take aggressive actions to contain a surge in inflation.

The Dow Jones Industrial Average fell 194.14 points, or 0.62 percent, at the open to 30,903.12. The S&P 500 opened lower by 32.72 points, or 0.86 percent, at 3,792.61, while the Nasdaq Composite dropped 163.66 points, or 1.47 percent, to 10,964.18 at the opening bell.