MARKETS

US stocks open sharply lower on recession fears

The sell-off came shortly after the yield on the 10-year US Treasury note briefly slid below the yield on the two-year bond. (File photo: Shutterstock)

Wall Street stocks were back in sell-off mode early Wednesday as weak economic data out of Germany and China exacerbated fears of a global slowdown.

Just after the opening bell, the Dow Jones Industrial Average was down 1.2 percent at 25,959.53.
The broad-based S&P 500 slid 1.5 percent to 2,883.50, while the tech-rich Nasdaq Composite Index dropped 1.8 percent to 7,875.27.

The sell-off came shortly after the yield on the 10-year US Treasury note briefly slid below the yield on the two-year bond, a dynamic that is often seen as a harbinger of recession.

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Last Update: Wednesday, 14 August 2019 KSA 16:44 - GMT 13:44
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