NEW YORK (AP) — U.S. stocks are sliding in early trading as customs data from China suggests a sharp slowdown in global trade.

Customs data released Monday showed China's imports fell by 18.8 percent in October from a year earlier.

In corporate news, shares of the travel booking company Priceline fell on a weak outlook for the fourth quarter and the oil company Apache fell on reports that it rejected a takeover offer.

The Dow Jones industrial average fell 88 points, or 0.5 percent, to 17,822 as of 9:35 a.m. Eastern time.

The Standard & Poor's 500 index fell 10 points, or 0.5 percent, to 2,089. The Nasdaq composite fell 25 points, or 0.5 percent, to 5,122.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.36 percent.