Stocks Opened Lower after Downbeat Eurozone Data

U.S. stocks opened lower on Monday after disappointing economic data from Europe stoked more fears of a global growth slowdown. The Dow Jones Industrial Average lately retreated 38.09 points, or 0.14%, to 26,896.98. The S&P 500 was off 2.34 points, or 0.08%, to 2,989.73. The Nasdaq Composite fell 7.40 points, or 0.09%, to 8,110.27.

Oil futures traded lower Monday, giving up early gains tied to worries over Saudi Arabia’s ability to recover from attacks that damaged the country’s oil facilities as quickly as officials have claimed. West Texas Intermediate crude for November delivery fell 24 cents, or 0.4%, to $57.85 a barrel, while November Brent crude was off 18 cents, or 0.3%, to $63.04 a barrel.

Manufacturing sentiment in the eurozone fell in September to the worst level in nearly seven years. The flash eurozone manufacturing purchasing managers index fell to an 83-month low of 45.6 in September, down from 47 in August.German manufacturing PMI fell to 41.4 in September from 43.5, the worst reading in more than a decade. The flash eurozone services PMI fell to an 8-month low of 52 from 53.5 in August.

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