Stocks Opened Lower as Coronavirus Fears Reignited

U.S. stocks opened lower on Thursday, after China reported a large jump in new virus cases after it changed its methodology for measuring the outbreak. The Dow Jones Industrial Average lately fell 111.15 points, or 0.38%, to 29,440.27. The S&P 500 was off 9.51 points, or 0.28%, to 3,369.94. The Nasdaq Composite declined 41.97 points, or 0.43%, to 9,683.99.

Oil futures were under pressure Thursday after a rise in the number of COVID-19 cases in China reignited worries about crude demand. West Texas Intermediate crude futures for March delivery were off 21 cents, or 0.4%, at $50.96 a barrel, while April Brent crude shed 31 cents, or 0.6%, to $55.48 a barrel.