Wall St. opens lower as recession signals grow

Wall St. opens lower as recession signals grow

Wall Street was set to open lower on Wednesday, as poor economic data from China and Germany put the focus back on the impact of a bruising Sino-U.S. trade war which is pushing some major economies toward the brink of recession.

Traders work on the floor at the New York Stock Exchange (NYSE) in New York
FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., August 13, 2019. REUTERS/Eduardo Munoz

REUTERS: U.S. stocks fell at open on Wednesday, as a closely-watched bond market indicator pointed to a renewed risk of recession, undoing gains from the previous session due to a retreat by Washington on its latest tariffs on Chinese goods.

The Dow Jones Industrial Average fell 244.83 points, or 0.93per cent, at the open to 26,035.08, tracking losses on other major global markets as economic numbers from China and Germany also disappointed.

The S&P 500 opened lower by 32.17 points, or 1.10per cent, at 2,894.15. The Nasdaq Composite dropped 139.03 points, or 1.73per cent, to 7,877.33 at the opening bell.

(Reporting by Shreyashi Sanyal in Bengaluru; editing by Patrick Graham)

Source: Reuters

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