Stocks Opened Lower after G7 Statement

U.S. stocks opened lower on Tuesday as investors reacted to a disappointing statement from global finance ministers. The Dow Jones Industrial Average lately fell 155.56 points, 0.58%, to 26,547.76. The S&P 500 was off 17.10 points, 0.55%, to 3,073.13. The Nasdaq Composite declined 56.24 points, or 0.63%, to 8,895.92.

Oil futures climbed again Tuesday, partly boosted by hope for coordinated efforts by global central banks and governments to address the novel coronavirus outbreak. April WTI crude futures were $1.06, or 2.3%, higher at $47.81 a barrel. May Brent crude advanced 97 cents, or 2%, at $52.94 a barrel.

Group of Seven finance ministers held a conference call Tuesday and issued a statement indicating their “commitment to use all appropriate policy tools to achieve strong, sustainable growth,” but signalling no concrete steps.