NEW YORK: US stocks plunged at the open on Wednesday, returning to sell-off mode as investors fled riskier equities and drove down bond yields on fears the global economy may be weakening even faster than expected.
Central banks in India, Thailand and New Zealand cut interest rates overnight, while European powerhouse Germany produced frighteningly weak data on industrial production.
About 10 minutes into the trading session, the benchmark Dow Jones Industrial Average was down 1.4 percent at 25,656.34.
The broader S&P 500 slid 1.1 percent to 2,849.46 while the tech-heavy Nasdaq dropped one percent to 7,759.06.
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