Stocks Tumbled at Open, Oil Saw Pressure

U.S. stocks tumbled at open on Wednesday, suggesting the volatility of the past couple weeks was set to continue. The Dow Jones Industrial Average lately fell 733.13 points, or 2.93%, to 24,285.03. The S&P 500 was down 85.13 points, or 2.95%, to 2,797.10. The Nasdaq Composite declined 220.36 points, or 2.64%, to 8,123.89.

Oil futures saw renewed pressure Wednesday after Saudi Arabia moved to increase crude output capacity. West Texas Intermediate crude for April delivery dropped $1.04, or 3%, to $33.32 a barrel. May Brent crude dropped $1.29, or 3.5%, to $31.60 a barrel.