US Stock indices decline as third quarter opens up

US stock indices declined on Friday, the first session of the third quarter, after marking historic losses in the first six months of 2022. 

The losses come amid concerns about US economic recession due to consecutive rate hikes as the Federal Reserve seeks to control runaway inflation. 

Dow Jones declined 0.5% as of 14:17 GMT to 30,624, while S&P 500 shed 0.4% to 3,770, as NASDAQ fell 0.3% to 10,999.