New York stock market closes down on rising recession fears

The New York stock market closed the first trading day of the week with a decline amid rising recession concerns.

At the close, the Dow Jones index lost more than 160 points and fell 0.49 percent to 32,757.54 points.

The S&P 500 index fell 0.90 percent to 3,817.66 points, and the Nasdaq index fell 1.49 percent to 10,546.03 points.

After the central banks signaled that interest rate hikes would continue, recession concerns in the markets strengthened.

Last week, after the US Federal Reserve (Fed), the European Central Bank (ECB) and the Bank of England (BoE) also maintained their “hawk” stance despite reducing the pace of tightening.

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