US stocks fall as the dollar continues to slam global currencies and sends the British pound to a record low

• US stocks opened lower Monday as investors weighed recession odds.
• Turmoil in the UK spurred by a weakening British pound added to Wall Street's concerns.

US stocks opened lower on Monday, as investors weighed mounting recession worries and the US dollar's relentless march higher.

In the UK, a weakening pound sterling weighed on global markets, with the currency hitting an all-time low against the dollar early Monday. While it recovered some losses later, the pound's steep descent is fueling chatter that the Bank of England may need to intervene to stop the bleeding.

Here's where US indexes stood as the market opened at 9:30 a.m on Monday:

• S&P 500: 3,686.87, down 0.17%
• Dow Jones Industrial Average: 29,534.59, down 0.19% (55.82 points)

• Nasdaq Composite: 10,862.73, down 0.05%

Here's what else is happening today:

• The British pound could fall below $1 parity as the UK's economic outlook darkens, according to Larry Summers.
• Germany landed a deal with the UAE for natural gas, as Berlin seeks to replaced shuttered Russian flows.
• The global energy crunch could push oil prices back above $100 per barrel, according to JPMorgan.

In commodities, bonds and crypto:

• Oil climbed, with West Texas Intermediate gaining 1.20% to $79.62. International benchmark Brent crude added 0.71% to $86.79.
• Gold rose 0.13% to $1,645.41 an ounce.
• The 10-year yield was 6 basis points higher at 3.757%.
• Bitcoin gained 0.07% $19,088.42.