U.S. stocks are down this morning, with benchmark indexes headed for sizable weekly losses, as crude's slide continued and after Chinese industrial production came in below expectations. When the markets lost much of their gains at the end of the day, yesterday, this open was predicable.
Oil prices fell further after the International Energy Agency reduced its outlook for global demand.
Equities around the globe dropped after November Chinese factory production slowed more than forecast.
U.S. wholesale prices declined 0.2 percent drop in the producer price index in November after a 0.2 percent rise the previous month.
A report at 9:55 a.m. Eastern could illustrate consumer confidence improved in December.
Adobe Systems gained after the software maker said it would acquire stock-photo company Fotalia for $800 million and posted quarterly results that beat expectations.
The Dow Jones Industrial Average dropped 108.21 points, or 0.6 percent, to 17,488.13. It's now down 74.
The S&P 500 shed 11.60 points, or 0.6 percent, to 2,023.73.
The Nasdaq declined 32.35 points, or 0.7 percent, to 4,675.90. The Nasdaq is now only down about 14.
For every share rising, about six fell on the New York Stock Exchange, where 57 million shares traded as of 9:35 a.m. Eastern. Composite volume hit 152 million.
The Chicago Board Options Exchange Volatility Index, one measure of investor uncertainty, has surged nearly 70 percent this week.
The U.S. dollar declined against the currencies of major U.S. trading partners and dollar-denominated commodities including gold and oil fell.
Crude futures for January delivery declined $1.11, or 1.9 percent, to $58.81 a barrel, and the February gold contract fell $3.10, or 0.2 percent, to $1,222.50 an ounce on the New York Mercantile Exchange.
The yield on the 10-year Treasury note used to figure mortgage rates and other consumer loans dropped four basis points to 2.1211 percent.