12/19/2022, 7:51 PM (Source: TeleTrader)
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Wall Street extends losses on recession scares

Wall Street stock exchanges recorded significant losses on Monday, with the negative trend extending from last week's sell-off as recession concerns pulled the equities below the flatline. Earlier report also warned that China's economy is seemingly headed for a recession as the business confidence in the country fell to a decade low.

The Dow Jones Industrial Average was down by 0.61% or 200 points at 1:47 pm ET with the Walt Disney Company diving 3.87% after the its latest production of Avatar: The Way of the Water failed to meet box office projections, earning $134 million in its opening weekend.

At the same time, the Nasdaq 100 registered a 150-plummet, slipping by 1.34%, while the S&P 500 fell 0.90%. The euro pushed stronger against the dollar, rising 0.25% to sell at $1.06190 at 1:49 pm ET.

Baha Breaking News (BBN) / AB