Wall Street Opens Sharply Lower on Recession Worries

By Reuters
Reuters
Reuters
June 16, 2022 Updated: June 16, 2022

U.S. stock indexes opened sharply lower on Thursday, with growth shares taking the biggest hit, after the Federal Reserve’s biggest interest rate hike since 1994 fanned recession worries.

The Dow Jones Industrial Average fell 362.79 points, or 1.18 percent, at the open to 30,305.74. The S&P 500 opened lower by 61.81 points, or 1.63 percent, at 3,728.18, while the Nasdaq Composite dropped 293.13 points, or 2.64 percent, to 10,806.02 at the opening bell.

Reuters