U.S. stocks open lower, extending selloff as China fears spark another round of jitters

0
92

U.S. stocks opened lower Monday, extending a selloff that saw the Dow Jones Industrial Average on Friday log its worst daily percentage drop since October 2020 as investors prepared for aggressive Federal Reserve rate increases and other measures aimed at quickly tightening monetary policy in response to soaring inflation. China over the weekend moved to expand COVID-19 lockdowns, contributing to a global equity market selloff as investors fled to safe asset, like Treasurys and the U.S. dollar. The Dow DJIA, -0.74% fell 283 points, or 0.8%, while the S&P 500 dropped 0.9% and the Nasdaq Composite shed 0.7%. Shares of Twitter Inc. TWTR, +3.27% were a bright spot, rising 4.2%, after news reports said the company could agree Monday to sell itself to Tesla Inc. chief executive Elon Musk.

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleWashington Watch: Congress returning to brawl over COVID aid, China competition bill
Next articleReuters reports Twitter is set to accept Elon Musk takeover offer

LEAVE A REPLY

Please enter your comment!
Please enter your name here