U.S. stocks opened lower on Monday as the market was trying to recover from last week's great loss.
Shortly after the opening bell, the Dow Jones Industrial Average fell 52.95 points, or 0.21 percent, to 25,287.04. The S&P 500 was down 6.80 points, or 0.25 percent, to 2,760.33. The Nasdaq Composite Index decreased 29.27 points, or 0.39 percent, to 7,467.62.
In the week ending Oct. 12, U.S. stocks posted their worst weekly declines since March following two days of steep sell-off. All three major indices, the Dow, the S&P 500 and the Nasdaq reported declines of more than 5 percent on Wednesday and Thursday, sparked by higher rates and a sell-off in tech shares.
Over the week, the Dow was down 4.2 percent for the week, the S&P 500 finished the week down by 4.1 percent, while the Nasdaq posted a 3.7 percent weekly loss.
The market was under pressure due to increasing concerns over rate hikes since the beginning of October.