Stocks Opened Lower amid Global Stock Selloff

U.S. stocks opened lower on Friday, as investors sold risky assets ahead of a Federal Reserve meeting. The Dow Jones Industrial Average lately lost 125.91 points, or 0.70%, to 17,859.28. The S&P 500 fell 17.23 points, or 0.81%, to 2,098.25. The Nasdaq Composite was down 50.50 points, or 1.02%, to 4,908.11.

U. S. oil futures prices fell below $50 a barrel on Friday, dragged down by an appreciating U.S. dollar and negative sentiment across financial market. Brent crude fell 1.3% to $51.28 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading down 1.4% at $49.83 a barrel.

A federal regulator said on Thursday it is reviewing reports of suspension problems in Tesla Motors Inc’s (TSLA.O) Model S sedans, and is investigating whether the company urged customers to sign agreements not to disclose the problem.

Bill Gross, the manager of the $1.4 billion Janus Global Unconstrained Bond Fund, warned central bank policies that pushed trillions of dollars into bonds with negative interest rates will eventually backfire violently.