Wall Street tumbles 1% at the open

US stock indices opened Friday 1% lower under pressure from the banking sector and new restrictions by the Fed after some banks failed the pressure test last Thursday. 

The Federal Reserve allowed banks to suspend dividends for the third quarter and for further quarters if needed. 

Regulators have expressed previously interest in lifting some restrictions put on the banking sector following the world financial crisis in 2008. 

Uncertainty spreads over a second coronavirus wave as infections spike anew, while the World Health Organization warned the peak hasn't been reached yet. 

Dow Jones opened 1.6% lower to 25,336, while NASDAQ shed 1.5% to 9,870, as S&P 500 tumbled 1.3% to 3,043.