U.S. stocks opened lower Monday as investors fretted about the world economy, while the U.K. government’s tax-cutting plans sent the British currency and bond markets into disarray.
The S&P 500 dropped 0.2% shortly after the opening bell. The Dow Jones Industrial Average fell 75 points, or 0.2%, and the Nasdaq Composite declined less than 0.1%, as investors continued to back away from a market that fell sharply last week. On Friday, the S&P 500 lost 1.7% on concerns that rising interest rates will push the global economy into recession.
