U.S. stocks finish lower in first trading session of 2023 as recession fears persist

U.S. stocks finished lower Tuesday, booking losses on the first trading session of 2023 after wrapping up the worst year since 2008. The Dow Jones Industrial Average ended down less than 0.1%, while the S&P 500 fell 0.4% and the technology-heavy Nasdaq Composite slid 0.8%, according to preliminary data from FactSet. In economic data released Tuesday, the S&P Global U.S. Manufacturing Purchasing Managers’ Index suggested factory activity in December contracted for a second straight month. International Monetary Fund chief Kristalina Georgieva warned in an interview on the CBS Sunday morning news program “Face the Nation” that 2023 was going to be tougher on the global economy than 2022.

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