16 Sep 2019

Wall Street slips at open after Saudi attacks; energy stocks surge

FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., September 12, 2019. REUTERS/Brendan McDermid

(Reuters) – U.S. stocks opened lower on Monday as the weekend attack on Saudi Arabian crude facilities knocked out 5% of the world’s supply and added to global growth worries, while the beaten down energy stocks soared as oil prices jumped more than 10%.

The Dow Jones Industrial Average .DJI fell 73.46 points, or 0.27%, at the open to 27,146.06. The S&P 500 .SPX opened lower by 10.98 points, or 0.37%, at 2,996.41. The Nasdaq Composite .IXIC dropped 55.07 points, or 0.67%, to 8,121.64 at the opening bell.

Reporting by Medha Singh in Bengaluru; Editing by Maju Samuel

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