Early on Tuesday, Wall Street equities declined as investors focused on the possibility that high interest rates may slow economic development.
Since the Federal Reserve met last week and hinted that there might be more rate increases in 2023, high borrowing rates have become a rising source of market worry.
The United Auto Workers strike and a potential government shutdown are further concerns.
The Dow Jones Industrial Average was down 1.4 percent at 33,869.66 after 15 minutes of trading.
The tech-heavy Nasdaq Composite Index decreased 0.6 percent to 13,189.80 and the broad-based S&P 500 slid 0.6 percent to 4,312.60.
According to Adam Sarhan of 50 Park Investments, “the elements are in place for another big leg down on Wall Street.”
“As a result, the market is under pressure, and the bulls are collectively scratching their heads and wondering where the positive news is going to come from. What will trigger the next bullish event?
The major indices ended the day on Monday with gains, breaking a four-day losing trend.