US: Wall Street tumbles on growing recession worries

WALL Street’s main indexes tumbled on Monday (Aug 5), as fears of the United States tipping into recession following weak economic data last week rippled through global markets.

The Dow Jones Industrial Average fell 681.07 points, or 1.7 per cent, at the open to 39,056.19.

The S&P 500 opened lower by 195.42 points, or 3.7 per cent, at 5,151.14, while the Nasdaq Composite dropped 1,063.63 points, or 6.3 per cent, to 15,712.53 at the opening bell. REUTERS