12/9/2022, 3:33 PM (Source: TeleTrader)
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US markets open lower on economic data, recession fears

US stock markets opened lower on Friday after the publication of new economic data. The Bureau of Labor Statistics previously said that producer prices in the country rose by 0.3% in November on a monthly basis.

As of today, the markets will likely process the recent announcement that the Federal Trade Commission (FTC) filed a lawsuit to block Microsoft's proposed $69 billion acquisition of Activision Blizzard, while stocks are heading to close the week in the red as investors try to make sense of the mixed signals the economy is showing.

The Dow Jones lost 0.23% at 9:31 am ET, with Walmart sinking 1.24%. The Nasdaq 100 fell 0.53%, while Lululemon Athletica decreased by 7.17%. A minute later, the S&P 500 declined 0.43%, as Avery Dennison dropped by 6.54%.

The euro was down by 0.20% against the dollar at 9:27 am ET, selling for $1.05332.

Baha Breaking News (BBN) / JG