New York stocks fell sharply on concerns that the U.S. Federal Reserve's aggressive rate hike could plunge the economy into a recession. The Dow collapsed at the 30,000-point level for the first time since January 2021. The Dow closed at 29,927.07, down 741.46 points or 2.42 percent from the previous day. The S&P 500 index closed at 3666.77, down 123.22 points (3.25%). The NASDAQ index fell 453.06 points (4.08%) to 16,646.10, the lowest level since September 2020. The S&P 500 index and the NASDAQ index have entered a bear market, falling about 24% and 34% from their high points in January and November, respectively. Dow Ji-soon is down 19% from the record high recorded on January 5. Interest rates on 10-year government bonds have fallen. The 10-year yield, which started at 3.289 percent on the same day, fell to 3.247 percent. The Dow's 30,000-point collapse...Wall Street's 'Critical Psychological Defense Line' Fears Collapse Wall Street is concerned