Global stock markets turn lower as oil prices dip again
Reporting from New York —
U.S. stocks are opening lower as another drop in the price of oil and some weak corporate earnings got trading off to a gloomy start.
Oil companies sank along with the price of crude early Friday. Chevron fell 1%.
Several companies also were falling after releasing weak earnings or outlooks. Deere & Co. and Nordstrom sank after their forecasts disappointed investors, and Ameren and VF Corp. fell after their results came up short of estimates.
The Dow Jones industrial average gave up 103 points, or 0.7 percent, to 16,301 as of 9:35 a.m. Eastern time.
The Standard & Poor’s 500 index lost 14 points, or 0.8 percent, to 1,902. The Nasdaq composite lost 29 points, or 0.7 percent, to 4,457.
