Wall Street sinks at open, Dow down nearly 400 pts

Monday, 22. August 2022 15:31

Major stock markets in the United States saw significant losses at the start of Monday's session as investors awaited the latest GDP data set for release later this week, as well as remarks by Federal Reserve Chair Jerome Powell that will follow. As the earnings season continued, Zoom Video Communications was set to publish its second-quarter results.

The Dow Jones plunged 1.16% or 392 points at the opening bell, while the Nasdaq 100 fell by 1.52% or 201 points. The S&P 500 lost 1.32% as Occidental tumbled over 5%. The pound stood mostly flat against the dollar to sell for 1.18185 at 9:26 am ET, while the euro once again hit parity earlier today and dropped by 0.22% to trade for 1.00167.

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Author:
Baha Breaking News (BBN) / ND