Dow Jones Continues To Decline Amid Fears Of Recession, Verizon, Walt Disney End With Major Cuts

The American indices continued to reel under the pressure of fears of recession as Wall Street closed in red for a second consecutive day.

Dow Jones Industrial Average

While S&P 500 and Nasdaq Composite closed in red and managed to cut their losses, ending the day's business with losses of under 0.50 per cent, Dow Jones Industrial Average was the biggest loser, as the marquee index closed with the biggest cut of all indices.

The Dow Jones ended the day with losses of 1.14 per cent or 478.23 points. The index had a relatively underwhelming day, before a slight surge towards the end of the day, before closing at 41,433.48 points.

Verizon Communications Inc

Some of the biggest at the bourse were Verizon, one of the biggest telcom company in the world.

The company shares suffered a major decline, closing with an overall decline of a mammoth 6.58 per cent or USD 3.06. This took the overall of the company to USD 43.43.

Walt Disney Co

Another big loser at the index was Walt Disney, one of the largest media companies in the world, with a foothold in various verticals.

The company shares started at USD 99.79, fare behind its previous day's closing, dipping below the USD 100 mark.

The decline of the company shares only further exacerbated as the company shares ended the day's trade on USD 97.90 per share. This came to pass after an overall decline of 5.03 per cent or USD 5.18.

McDonald's Corp

Another big name that had a bad day at the NYSE was fast-food giant McDonald's.

The company shares started on a positive note, only to slip as the day progressed. The company shares closed with losses of 3.31 per cent or USD 10.49, closing at USD 306.76 per piece.

These developments come to pass amid fears of recession that have been only supplemented by Trump's erratic tariff policies, wherein he had gone back and forth with the imposition of tariffs on trading partners.