Wall Street slumps as rise in virus cases dims economic outlook

A nearly empty trading floor is seen as preparations are made for the return to trading at the New York Stock Exchange (NYSE) in New York, U.S., May 22, 2020. REUTERS/Brendan McDermid/File Photo

(Reuters) – Wall Street’s main indexes opened lower on Wednesday as coronavirus cases rose at an alarming rate in the United States and Europe, dashing hopes of a speedy global economic recovery.

The Dow Jones Industrial Average fell 361.05 points, or 1.31%, at the open to 27,102.14. The S&P 500 opened lower by 61.54 points, or 1.81%, at 3,329.14, while the Nasdaq Composite dropped 200.45 points, or 1.75%, to 11,230.90 at the opening bell.

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