© Reuters.
By Liz Moyer
Investing.com — U.S. stocks fell at the opening amid recurring fears about aggressive actions by central banks to curb inflation.
At 9:47 ET (13:47 GMT), the was down 313 points, or 1%, while the was down 1.4% and the was down 1.8%.
After rebounding on Wednesday, stocks were again pressured by investors who fear a global slowdown. Tech stocks slid the most as yields on Treasurys ticked higher again.
The economy recovered from the pandemic stronger than initially understood, according to Commerce Department revisions of gross domestic product readings.
GDP rose 5.9% last year, the department said. That was revised up from the earlier reading of 5.7%.
Meanwhile, the labor market continues to show its resilience. The number of Americans filing new last week fell to 193,000, beating expectations even as the Federal Reserve raises interest rates to slow demand.
Airline stocks were under pressure as Hurricane Ian in Florida forced the cancellation of thousands of flights to and from the state. Shares of American Airlines Group (NASDAQ:) fell 3.8%, while shares of United Airlines Holdings Inc (NASDAQ:) also fell 3.8% and shares of Southwest Airlines Company (NYSE:) fell 2.9%.
Oil was falling. was down 0.7%, to $81.62 a barrel, while crude was down 0.7% to $87.50 a barrel. was down 0.6% to $1660.
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