9/26, 10:00 PM (Source: TeleTrader)
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Wall Street closes with losses on recession woes

Major Wall Street equities ended the trading session on Monday recording losses, with the downturn trend seemingly driven by recession fears as the Federal Reserve warns of more aggressive monetary tightening that could push the economy into a slowdown. Furthermore, the rise in yields on the country's Treasury notes may have contributed to the negative sentiment that dragged the Wall Street indices down.

The Dow Jones Industrial Average plunged by 1.10% or 325 points at the closing bell, sinking 19.48% year to date. Travelers Companies Inc. was the index's worst performer, declining by 3.14%. The Nasdaq 100 dipped by 0.51%, as Charter Communications Inc. nosedived by 4.81%. The S&P 500 closed the session, plummeting by 1.02%, falling to the lowest level since December 2020. DISH Network Corporation pulled the index down by 6.12%.

The euro slipped 0.79% against the American currency, selling at $0.96089 at 3:58 pm ET.

Baha Breaking News (BBN) / AB