Markets Right Now: Stocks open sharply lower on Wall Street

FILE- In this Nov. 28, 2018, file photo trader Jonathan Corpina works on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EST on Thursday, Dec. 6. (AP Photo/Richard Drew, File)

NEW YORK — The latest on developments in financial markets (all times local):

9:35 a.m.

Stocks are opening sharply lower as the arrest of a senior Chinese technology executive threatened to worsen trade tensions between China and the U.S.

The price of oil also fell sharply early Thursday as OPEC leaders gathered to discuss possible cuts in production.

The Dow Jones Industrial Average dropped as much as 500 points before erasing some of its losses.

Boeing and Caterpillar, which would stand to lose much in an extended trade battle, fell the most in the Dow.

Traders continued to shovel money into bonds, a signal that they see weakness in the economy ahead.

The Dow fell 390 points, or 1.6 percent, to 24,640.

The S&P 500 lost 36 points, or 1.3 percent, to 2,664. The Nasdaq gave up 99 points, or 1.4 percent, to 7,062.

People also read these

Beyond 'Obamacare': State initiatives refocus...

Aug 9, 2016

Political activists are looking to state ballot questions to move beyond "Obamacare" and refocus...

Former aide in text: Christie 'flat out lied' in...

Aug 10, 2016

According to a new court filing, a former aide to Chris Christie texted to a colleague that the New...

Police seek armed man accused of taking patient...

Aug 10, 2016

Police are searching for a Pennsylvania man accused of threatening two nurses at gunpoint at a...

Refugee athletes from Congo find joy simply in...

Aug 10, 2016

Refugee athletes Yolande Bukasa and Popole Misenga competed in judo at the Rio Olympics, and they...

Outburst of shooting stars up to 200 mph -...

Aug 10, 2016

Get set for an outburst of shooting stars that could peak at up to 200 meteors per hour

About Us

The World Insiders brings you exclusive coverage from across the globe in a timely, easy to consume format sourced directly from our regional media partners.

Contact us: sales[at]theworldinsiders.com

Subscribe Now!