Wall Avenue tumbles at open after China plans tariff retaliation

Merchants work on the ground on the New York Inventory Change (NYSE) in New York, U.S., Could 9, 2019. REUTERS/Brendan McDermid

(Reuters) U.S. shares fell sharply on the open on Monday after Beijing introduced plans to retaliate with tariffs on U.S. items, elevating fears that one other spherical of tit-for-tat measures may push the U.S. financial system towards recession.

The Dow Jones Industrial Common fell 374.31 factors, or 1.44%, on the open to 25,568.06. The S&P 500 opened decrease by 41.21 factors, or 1.43%, at 2,840.19. The Nasdaq Composite dropped 196.87 factors, or 2.49%, to 7,720.07 on the opening bell.

Reporting by Amy Caren Daniel in Bengaluru; Modifying by Arun Koyyur

Author: Maxwell C.

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