Stocks Opened Slightly Lower, Oil Prices Fell

U.S. stocks opened slightly lower on Tuesday amid some worries around muted global growth. The Dow Jones Industrial Average lately shed 40.49 points, or 0.14%, to 29,307.61. The S&P 500 was down 8.04 points, or 0.24%, to 3,321.58. The Nasdaq Composite fell 13.09 points, or 0.14%, to 9,375.85.

Crude-oil prices headed sharply lower on Tuesday as investors worries about growing global supplies overshadowed a supply disruption in the Middle East due to unrest in Libya and Iraq. West Texas Intermediate crude futures for March delivery fell 67 cents, or 1.1%, to trade at $57.91 a barrel. March Brent oil was down 96 cents, or 1.5%, to $64.25 a barrel.

On Monday, the International Monetary Fund, or IMF, downgraded global economic growth forecast from 3.4% to 3.3% for 2020, with the organization projecting that the U.S. economy projected to grow by 2.0% this year, a cut of 0.1 percentage points compared with the IMF’s October 2019 forecast.

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