Stocks open lower as volatility hits Wall Street; oil drops
Associated Press
NEW YORK (AP) — Stocks are falling on Wall Street as the market undergoes a bout of volatility. The S&P 500 fell 0.6% Wednesday morning. The benchmark index has alternated between gains and losses of more than 1% the previous four days. The Dow Jones Industrial Average slipped 0.5% and the Nasdaq fell 0.7%. International markets also sold off, with exchanges in Japan, South Korea, Germany and France all dropping more than 1%. Energy prices are retreating after a strong rally that contributed to renewed inflation fears among investors. U.S. oil fell 1.6% to $77.66 per barrel and natural gas dropped 8,1%. The yield on the 10-year Treasury note dipped to 1.51%.
