Wall Street Tumbles as Economic Concerns Mount

Wall Street's main indexes opened sharply lower, reflecting fears about economic contraction in the first quarter. The contraction is linked to the impact of President Trump's tariff policies. The Dow Jones, S&P 500, and Nasdaq all experienced significant drops at market opening.

Wall Street experienced a tumultuous start on Wednesday, with its primary indexes opening significantly lower. The decline follows reports of the world's largest economy contracting in the first quarter, which has heightened anxiety regarding President Donald Trump's tariff strategies.

At the opening bell, the Dow Jones Industrial Average fell by 237.2 points, or 0.59%, settling at 40,290.41. Meanwhile, the S&P 500 dropped 61.4 points, equivalent to a 1.10% fall, landing at 5,499.44.

The Nasdaq Composite wasn't spared either, experiencing a notable decrease of 361.3 points, or 2.07%, reaching 17,099.977. These figures underscore the financial sector's vulnerability amid ongoing economic uncertainties.

(With inputs from agencies.)