Wall Street slumps amid EU cut in economic growth forecasts

U.S. stocks opened lower on Thursday as worries over a global slowdown were rekindled after the European Union cut its economic growth forecasts, while a slew of dismal quarterly reports also added to woes.

The Dow Jones Industrial Average fell 124.49 points, or 0.49 per cent, at the open to 25,265.81. The S&P 500 opened lower by 14.08 points, or 0.52 per cent, at 2,717.53. The Nasdaq Composite dropped 58.78 points, or 0.80 per cent, to 7,316.50 at the opening bell.