Dow falls more than 300 points at the open, declining for a second day on fears the Fed is sending economy into a recession

Stocks were sharply lower Thursday after retail sales for November fell more than expected, raising fears that the Federal Reserve’s relentless interest rate hikes are tipping the economy into a recession.

The Dow Jones Industrial Average fell 336 points, or 0.99%. The S&P 500 dropped 1.16%, while the Nasdaq Composite lost 1.28%.

Investors digested a disappointing retail sales report that suggested inflation is taking a toll on consumers. Retail sales fell 0.6% in November, according to the Commerce Department. That was below Dow Jones estimates of a 0.3% decline.

Treasury yields declined following the latest Fed policy update, with the yield on the benchmark 10-year Treasury note falling below 3.5%.

Meanwhile, Tesla shares fell more than 2% in the premarket after CEO Elon Musk sold a chunk of his stake in the company.

Those moves follow a down session Wednesday when the Dow fell 142 points, while the S&P 500 declined 0.61% and the Nasdaq Composite…

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