Stocks Opened Lower as Tariff Worries Weighed

U.S. stocks opened lower on Monday, starting third-quarter trade on a downbeat note, due to mounting worries of a tariff war between the United States and its trading partners. The Dow Jones Industrial Average lately fell 158.08 points, or 0.65%, to 24,113.33. The S&P 500 lost 14.09 points, or 0.52%, to 2,704.28. The Nasdaq Composite dropped 35.25 points, or 0.47%, to 7,475.06.

Oil futures kicked off the second half of the year with some losses on Monday, amid concerns global oil producers could bump up production more than investors expect. August light, sweet crude was recently down 22 cents to $73.90 a barrel. September Brent fell around 43 cents, or 0.6%, to $78.80 a barrel.

Tesla Inc produced 5,031 Model 3 electric cars in the last seven days of its second quarter, the company said on Monday, beating its long-elusive production target after several hiccups.

Dell Technologies Inc said on Monday it would buy the tracking stock of VMware Inc (VMW) in a cash and stock deal, taking a step closer to a return to the public market and ending a months-long review of its business.