Stocks are falling again with Dow down triple digits as rising bond yields hit growth stocks

Outlook for market isn’t bright even if we dodge a recession, says Goldman Sachs

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Stocks dropped amid concern over how much the Federal Reserve will have to boost rates to tame decades-high inflation without throwing the economy into a recession.

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Wall Street’s major indexes opened lower on Monday as rising U.S. Treasury yields amid prospects of aggressive monetary policy tightening weighed on growth stocks, with the sentiment taking a hit from fears of an economic slowdown in China.

The Dow Jones Industrial Average fell 504.51 points at the open to 32,394.86. The S&P 500 fell 77.97 points at the open to 40845.37, while the Nasdaq Composite dropped 252.95 points to 11,891.71 at the opening bell. The TSX was down 394.55 to 20,238.74.