Wall St opens lower, S&P 500 on pace to confirm bear market By Reuters

© Reuters. A trader works on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., May 20, 2022. REUTERS/Andrew Kelly

(Reuters) – Wall Street’s main indexes opened sharply lower on Monday with the on course to confirm a bear market on growing fears that aggressive interest rate hikes could tip the economy into recession.

At 09:37 a.m. the fell 563.56 points, or 1.80% , to 30,829.23, the S&P 500 lost 87.03 points, or 2.23 %, to 3,813.83 and the lost 284.93 points, or 2.51 %, to 11,055.10.