US stocks open flat after heavy losses yesterday

US stock opened flat today as the market attempts to a biref respite after the massive losses that occurred yesterday.

Wall Street saw massive sell-off yesterday as concerns mounted over the US economy after the two-year and 10-year bond yield curve inversion, which the market interpreted as a near recession for the US.

The US economy revealed that the retail sales rose by 0.7% in July, while the unemployment claims rose by 9,000 to 220,000 last week.

Global markets were immersed by cautious sentiment amid mixed bias towards the recession signals, while the former Fed chairwoman, Janet Yellen, sees that the yield curve inversion doesn't have to necessarily be a signal this time, as the US economy is still strong.

By 15:10 GMT, Dow Jones fell by 0.1% or 46 points to 25,433 after losing 800 points yesterday, Nasdaq shed 0.3% or 38 points to 7,744, and S&P 500 fell by 0.1% (2 points) and reached 2,838 points.