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US: Stocks open sharply lower on recession fears
[NEW YORK] Wall Street stocks were back in sell-off mode early Wednesday as weak economic data out of Germany and China exacerbated fears of a global slowdown.
Just after the opening bell, the Dow Jones Industrial Average was down 1.2 per cent at 25,959.53.
The broad-based S&P 500 slid 1.5 per cent to 2,883.50, while the tech-rich Nasdaq Composite Index dropped 1.8 per cent to 7,875.27.
The sell-off came shortly after the yield on the 10-year US Treasury note briefly slid below the yield on the two-year bond, a dynamic that is often seen as a harbinger of recession.