Stocks Opened Slightly Lower, Oil Prices Fell

U.S. stocks opened slightly lower on Friday as ongoing signs of the economic damage from the coronavirus pandemic compounded with fears of rising U.S.-China tensions. The Dow Jones Industrial Average lately shed 78.06 points, or 0.32%, to 24,396.06. The S&P 500 fell 7.66 points, or 0.26%, to 2,940.85. The Nasdaq Composite was down 19.95 points, or 0.21%, to 9,264.93.

Oil prices were set to break the longest winning streak since February on Friday over worries about China growth and fresh friction between Beijing and Hong Kong. July West Texas Intermediate oil dropped $2.46, or 7.3%, to $31.47 a barrel. Brent crude for July delivery dropped $1.98, or nearly 5.4%, to $34.10 a barrel.

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