Stocks Opened Firmly Lower as Trade Worries Persisted

U.S. stocks opened firmly lower on Monday, as trade-war fears dogged global markets. The Dow Jones Industrial Average lately slumped 201.41 points, or 0.80%, to 24,889.07. The S&P 500 retreated 15.04 points, or 0.54%, to 2,764.62. The Nasdaq Composite fell 36.43 points, or 0.47%, to 7,709.95.

The U.S. oil benchmark fell while a global crude gauge rose Monday, as investors assessed escalating trade tensions and braced for a potential output boost. July West Texas Intermediate crude lost 35 cents, or 0.5%, to $64.71 a barrel, but August Brent crude tacked on 56 cents, or 0.8%, to $74 a barrel.

President Donald Trump on Friday announced tariffs on $50 billion worth of Chinese imports, and Beijing retaliated by targeting high-value American exports.