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 0.93%, 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 1.10%, at 2,894.15. The Nasdaq Composite dropped 139.03 points, or 1.73%, to 7,877.33 at the opening bell.
Reporting by Shreyashi Sanyal in Bengaluru; editing by Patrick Graham