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