Wall St. drops at open as trade war stokes fears of recession
FILW PHOTO: A trader works on the floor at the New York Stock Exchange (NYSE) in New York, U.S., August 9, 2019. REUTERS/Brendan McDermid
(Reuters) – U.S. stocks opened lower on Monday, dragged down by financial stocks, as investors shunned risky bets on fears that a drawn-out trade war between the United States and China could force the global economy into recession.
The Dow Jones Industrial Average fell 117.53 points, or 0.45%, at the open to 26,169.91. The S&P 500 opened lower by 11.58 points, or 0.40%, at 2,907.07. The Nasdaq Composite dropped 51.65 points, or 0.65%, to 7,907.49 at the opening bell.
Reporting by Medha Singh in Bengaluru; Editing by Anil D’Silva