Wall Street Opens Lower as Weak Private Payrolls Data Deepens Recession Worries

Wall Street’s main indexes opened lower on Wednesday after weaker-than-expected private payrolls data for March deepened worries that the rapid interest rate hikes by the Federal Reserve may tip the U.S. economy into a recession.

The Dow Jones Industrial Average fell 7.78 points, or 0.02 percent, at the open to 33,394.60. The S&P 500 opened lower by 6.10 points, or 0.15 percent, at 4,094.50, while the Nasdaq Composite dropped 44.56 points, or 0.37 percent, to 12,081.76 at the opening bell.