Stocks Opened Lower after Weak Europe Data

U.S. stocks opened lower on Friday, after a downbeat round of European data underlined worries about global economic growth. The Dow Jones Industrial Average lately fell 225.74 points, or 0.87%, to 25,736.77. The S&P 500 was down 21.64 points, or 0.76%, to 2,833.24. The Nasdaq Composite declined 59.72 points, or 0.76%, to 7,779.24.

Oil futures dropped for back-to-back sessions on Friday, with the U.S. contract now at risk of ending the week below the key $60 mark despite hitting the best levels of 2019 earlier this week. West Texas Intermediate crude for May delivery fell 74 cents, or 1.2%, at $59.21 a barrel. May Brent crude lost $1.02, or 1.5%, to $66.84 a barrel.

Germany’s key manufacturing sector contracted for the third consecutive month in March, according to an advance reading from IHS Markit’s monthly survey. Data firm IHS Markit Friday said its composite Purchasing Managers Index fell to 51.3 in March from 51.9 in February, a larger fall than the dip to 51.8 expected by economists.

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