Wall St opens lower as bank earnings disappoint By Reuters

© Reuters. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 13, 2022. REUTERS/Brendan McDermid

(Reuters) – Wall Street’s main indexes opened lower on Thursday as downbeat earnings from big U.S. banks JPMorgan Chase & Co (NYSE:) and Morgan Stanley (NYSE:) underscored concerns about a sharp economic downturn caused by aggressive monetary policy tightening.

The fell 320.99 points, or 1.04%, at the open to 30,451.80. The opened lower by 37.79 points, or 0.99%, at 3,763.99, while the dropped 96.37 points, or 0.86%, to 11,151.21 at the opening bell.