US stocks open lower; the Dow drops 525 points on fresh bank concerns, according to Credit Suisse Jitters

The major Wall Street indexes began trading lower on Wednesday as turmoil at Credit Suisse reignited concerns about a banking crisis, although US economic data maintained optimism about a less aggressive Federal Reserve move in monetary policy next week.

The Dow Jones Industrial Average opened at 31,759.87 down 525 points, or 1.16%.

After the opening bell, the Nasdaq Composite fell 1.40% to 11,291.17, while the S&P 500 opened 42.55 points, or 1.09%, lower at 3,876.74.