U.S. stocks fell at open on Wednesday, as a closely-watched bond market indicator pointed to a renewed risk of recession following poor economic data from Germany and China, undoing gains from the previous session due to a retreat by Washington on its latest tariffs on Chinese goods.

Slumping exports sent Germany's economy into reverse in the second quarter, while Chinese industrial output growth cooled to a more than 17-year low in July, underscoring the impact of a bruising U.S.-China trade war on global growth.

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