Stocks Opened Slightly Lower, Oil Prices Fell
- Tuesday, January 21, 2020, 9:54
- Stock Market
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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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