Stocks Opened Lower amid Trade War Fears

U.S. stocks open lower on Monday as investors remained concerned about the increasing likelihood of a global trade war following President Donald Trump’s threat to impose hefty tariffs. The Dow Jones Industrial Average lately fell 96.95 points, or 0.40%, to 24,441.11. The S&P 500 sank 9.36 points, or 0.35%, to 2,681.89. The Nasdaq Composite was off 28.96 points, or 0.40%, to 7,228.91.

Oil prices rose Monday, supported by reports of supply disruptions in Libya over the weekend. Brent crude was up 0.6% to $64.78 a barrel. West Texas Intermediate futures were trading up 0.2% at $61.40 a barrel.

Ministers from the United States, Canada and Mexico meet on Monday to wrap up the latest round of NAFTA talks under the shadow of U.S. President Donald Trump’s proposed steep tariffs on steel and aluminum imports.

China aims to expand its economy by around 6.5 percent this year, the same as in 2017, while pressing ahead with its campaign to reduce risks in the financial system, Premier Li Keqiang said Monday.