Wall Street opens in red amid concerns over slowdown in global economy
|- Disappointing data from the euro area weigh on market sentiment.
- Falling US Treasury bond yields drag financial shares lower on Monday.
Wall Street's main indexes started the day in the negative territory on Monday as resurfacing worries over a global economic slowdown after disappointing PMI data from the euro area and uncertainty surrounding the US-China trade conflict cause investors to move toward safe-haven assets such as US Treasury bonds.
As of writing, the Dow Jones Industrial Average was down 0.35% on the day while the S&P 500 and the Nasdaq Composite were both erasing 0.2%.
Among the 11 S&P 500 major sectors, the Financials Index is down around 0.5% pressured by a more-than-2% fall in the 10-year US T-bond yield.
On the other hand, the defensive Real Estate and Consumer Staples indexes are posting modest gains to reflect the risk-off atmosphere.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.