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U.S. stocks open lower following global rout

Xinhua, September 26, 2016 Adjust font size:

U.S. stocks opened lower Monday as investor sentiment was dented by a broadly-based stock decline around the world.

In Asia, Chinese stocks tumbled on Monday, with the Shanghai stock index sinking below the key psychological level of 3,000 points. The benchmark Shanghai Composite Index dropped 1.76 percent to 2,980.43 points.

Japanese shares suffered big losses Monday on the stronger yen, with the 225-issue Nikkei Stock Average going down 1.25 percent.

European equities also traded sharply lower Monday amid global uncertainty, with German benchmark DAX index at Frankfurt Stock Exchange dipping nearly 2 percent.

Meanwhile, oil prices were in focus, which traded about 2 percent higher in the early trading Monday as the world's largest producers gathered in Algeria to discuss ways to support the market.

Shortly after the opening bell, the Dow Jones Industrial Average fell 111.42 points, or 0.61 percent, to 18,150.03. The S&P 500 lost 12.17 points, or 0.56 percent, to 2,152.52. The Nasdaq Composite Index was down 36.14 points, or 0.68 percent, to 5,269.61.

On Friday, U.S. stocks ended lower as investors were looking for excuses to lock in gains after a three-day rebound. Endi