BUSINESS US stocks open sharply lower on worsening economic outlook

BUSINESS

US stocks open sharply lower on worsening economic outlook

AFP

21:36, March 18, 2020

Wall Street stocks resumed their downward slide early Wednesday as the economic toll mounts from the rapid near-shutdown of key industrial and services sectors.

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Meric Greenbaum, Designated Market Maker IMC financial looks up at the board before the opening bell right before trading halted on the New York Stock Exchange on March 9, 2020 in New York. (Photo: AFP)

About five minutes into trading, the Dow Jones Industrial Average stood at 20,102.12, down more than 1,100 points or 5.4 percent.

The broad-based S&P 500 slumped 4.9 percent to 2,404.96, while the tech-rich Nasdaq Composite Index tumbled 4.5 percent to 7,003.31.


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