Wall Street opens lower as global growth fears reemerge

Wall Street opened lower on Tuesday as weak Chinese economic data and a surprise rate cut by the Australian central bank raised concerns about the health of the global economy.

The Dow Jones industrial average fell 50.75 points, or 0.28%, to 17,840.41, the S&P 500 lost 9.05 points, or 0.43%, to 2,072.38 and the Nasdaq composite dropped 34.65 points, or 0.72%, to 4,782.95.