US: Wall St opens lower as weak private payrolls data deepens recession worries

WALL Street’s main indexes opened lower on Wednesday (Apr 5) after weaker-than-expected private payrolls data for March deepened worries that the rapid interest rate hikes by the Federal Reserve may tip the US economy into a recession.

The Dow Jones Industrial Average fell 7.78 points, or 0.02 per cent, at the open to 33,394.60.

The S&P 500 opened lower by 6.10 points, or 0.15 per cent, at 4,094.50, while the Nasdaq Composite dropped 44.56 points, or 0.37 per cent, to 12,081.76 at the opening bell. REUTERS