Stocks Opened Lower on Christmas Eve

U.S. stocks opened lower on Monday as comments from Treasury Secretary Steven Mnuchin sparked worries about bank liquidity. The Dow Jones Industrial lately fell 301.60 points, or 1.34%, to 22,333. The S&P 500 was down 34.33 points, or 1.42%, to 2,382.29. The Nasdaq Composite declined 84.81 point, or 1.34%, to 6,248.18.

Crude-oil futures were little changed on Monday, amid concerns about global crude output and fears of an economic slowdown internationally that may erode demand. February West Texas Intermediate edged 10 cents, or 0.2%, lower to $45.49 a barrel. February Brent added a penny, or less than 0.1%, to reach $53.78 a barrel.

On Sunday, Treasury Secretary Steven Mnuchin held individual calls with CEOs of six of the largest banks in the U.S. to discuss liquidity concerns. Mnuchin said in a statement that “the banks all confirmed ample liquidity is available for lending to consumers and business markets.”

U.S. retailers wrapped up one of the strongest holiday seasons in years, with shoppers crowding stores for last-minute Christmas gifts and delivery companies so far able to keep up with the surge in online orders.