Wall Street lower on mounting recession worries

Wall Street’s main indexes opened lower on Wednesday as warnings of a looming recession from major Wall Street bankers offset optimism around China relaxing its strict zero-COVID rules.

The Dow Jones Industrial Average fell 39.9 points, or 0.12%, at the open to 33556.4. The S&P 500 fell 8.0 points, or 0.20%, at the open to 3933.28, while the Nasdaq Composite dropped 50.9 points, or 0.46%, to 10963.95 at the opening bell.