Dow falls 550 points after opening bell on rate-hike worries as earnings season begins

Stocks opened sharply lower Thursday as investors weighed expectations for the Federal Reserve to continue delivering outsize rate increases in its effort to get inflation under control, raising fears of a sharp economic slowdown or recession. Investors also weighed disappointing earnings from JPMorgan Chase & Co. and Morgan Stanley , which both fell in early action. The Dow Jones Industrial Average was down 553 points, or 1.8%, while the S&P 500 dropped 1.5% and the Nasdaq Composite shed 1.4%.

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