US: Wall St heads toward June lows on growth worries

WALL Street’s main indexes opened lower on Friday (Sep23), heading toward June lows, as investors fretted over the prospect of an economic downturn and a hit to corporate earnings from the US Federal Reserve’s aggressive monetary policy tightening to quell inflation.

The Dow Jones Industrial Average fell 121.03 points, or 0.40 per cent, at the open to 29,955.65.

The S&P 500 opened lower by 30.85 points, or 0.82 per cent, at 3,727.14, while the Nasdaq Composite dropped 114.11 points, or 1.03 per cent, to 10,952.69 at the opening bell. REUTERS