Wall Street turns to losses, Nasdaq at 2-year low
United States stock markets reversed earlier gains on Monday and traded lower. The Nasdaq 100 dropped over 1%, reaching its lowest point since September 2020. Investor confidence is likely to be shaken by stark warnings about the global economy, with the World Bank and the IMF both predicting a widespread recession in 2022 and 2023.
The Dow Jones lost 0.21% at 10:46 am ET, while the Nasdaq 100 sank 1.16% and the S&P 500 dropped 0.68% at the same time.
The euro traded 0.35% lower against the dollar and sold for 0.97060 at 10:47 am ET.