Wall Street tumbles on recession fears

The Nasdaq Composite (IXIC) saw a significant decline, losing 1,063.63 points, or 6.34%, to 15,712.53.

The US Wall Street's main indexes plummeted due to fears of a potential recession in the United States following weak economic data last week.

At the opening bell, the Dow Jones Industrial Average (DJI) dropped 681.07 points, or 1.71%, to 39,056.19. However, in just a few minutes, the index tumbled 1,176 points or 2.96% to 38,560.29.

The S&P 500 (SPX) fell by 195.42 points, or 3.66%, to 5,151.14.

Meanwhile, the Nasdaq Composite (IXIC) saw a significant decline, losing 1,063.63 points, or 6.34%, to 15,712.53.

All the Wall Street indices were set to plunge at the opening of the overnight trading session amid growing recession fears after a series of weak economic data.