Wall Street Closes Sharply Down Amid Recession Fears

Wall Street declined on Tuesday, following indications of a cooling economy, which intensified fears that the Federal Reserve's efforts to curb inflation at its highest levels in decades could lead to a deep recession. The S&P 500 index closed down 3.87 points, or 0.58%, at 4100.64 points, the Nasdaq Composite dropped 63.13 points, or 0.52%, to 12126.39 points, and the Dow Jones Industrial Average fell 196.83 points, or 0.59%, to 33404.32 points.