Dow Jones index – stocks fell on Tuesday as concerns about a possible recession in the U.S. weighed on investor sentiment.

The Dow Jones Industrial Average fell 420 points, or about 1.4%. The S&P 500 dipped 1.5%, and the tech-heavy Nasdaq Composite shed about 1.6%.

Concerns about economic growth are hanging over investors as the U.S. market looks to recover after a rough first half to the year.

Stocks tied to economic growth fell sharply. Shares of JPMorgan and Wells Fargo shed 2.5% and 2.7%, respectively. American Airlines fell more than 4%. The benchmark 10-year Treasury yield has declined in recent days even as the Federal Reserve has pledged to aggressively fight inflation. The 10-year yield is now trading close to the 2-year yield, a recession indicator watched by many on Wall Street.

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“The US market is all about pricing in a slowdown, and pricing in the fact that the Fed is forced to hike rates into a slowdown,” Allianz chief economic advisor Mohamed El-Erian said on “Squawk Box.”

The price of oil also declined, reflecting a possible economic slowdown. Futures for U.S. benchmark West Texas Intermediate fell below $105 per barrel. Shares of oil giant Chevron dropped nearly 3%.

Markets finished one of the worst halves in decades on Thursday, and major averages posted their fourth week of losses in five despite modest gains during Friday’s trading session.