Stocks open lower on more signs of China weakness
NEW YORK (AP) — The stock market is opening lower following more signs of weakness in China’s economy and disappointing U.S. retail sales over Thanksgiving weekend.
The Dow Jones industrial average fell 59 points, or 0.3 percent, to 17,775 as of 9:35 a.m. Eastern time Monday.
The Standard & Poor’s 500 index fell nine points, or 0.4 percent, to 2,058. The Nasdaq composite fell 16 points, or 0.3 percent, to 4,775.
U.S. benchmark crude edged up 78 cents to $66.96 a barrel after falling more than 10 percent Friday. That drop helped push the Russian ruble down nearly 5 percent against the dollar. Russia’s economy is heavily dependent on oil revenue.
Government bond prices were flat. The yield on the 10-year Treasury note held steady at 2.16 percent.