12/5/2022, 10:01 PM (Source: TeleTrader)
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US closes deep in red amid recession concerns

Major United States stock markets closed in the red territory on Monday as Fitch Ratings cut the 2023 world growth outlook due to intensified rate hikes from central banks. Traders also observed the latest ISM service sector data, which recorded further growth in November, sending the euro down by 0.44% against the dollar at 3:59 pm ET to sell for $1.04853.

The Dow Jones plummeted 1.40% at the closing bell, shedding almost 500 points, as Salesforce sank 7.35% after announcing that Slack's CEO will be leaving the company. The Nasdaq 100 plunged by 1.73%, with Tesla dropping 6.37% after denying plans to cut production in China. The S&P 500 decreased by 1.79%, as VF Corp. saw a sell-off of over 11.30% after downgrading its earnings prospects.

Baha Breaking News (BBN) / MX