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(Reuters) – Wall Street’s main indexes opened lower on Thursday as downbeat earnings from big U.S. banks JPMorgan Chase & Co (NYSE:JPM) and Morgan Stanley (NYSE:MS) underscored concerns about a sharp economic downturn caused by aggressive monetary policy tightening.
The Dow Jones Industrial Average fell 320.99 points, or 1.04%, at the open to 30,451.80. The S&P 500 opened lower by 37.79 points, or 0.99%, at 3,763.99, while the Nasdaq Composite dropped 96.37 points, or 0.86%, to 11,151.21 at the opening bell.
