US stocks open lower, led by a decline in energy sector, as price of crude oil falls again

NEW YORK, N.Y. – U.S. stocks are opening modestly lower as indexes in Europe and China recover from a slump the previous day.

Energy stocks declined the most early Wednesday as the price of crude oil dropped again. Chevron and Exxon Mobil fell the most of the 30 stocks in the Dow Jones industrial average.

The Dow was down 90 points, 0.5 per cent, to 17,712 as of 9:35 a.m. Eastern time.

The Standard & Poor’s 500 index fell eight points, or 0.4 per cent, to 2,051. The Nasdaq composite fell nine points, or 0.2 per cent, to 4,756.

The price of crude oil sank $1.56 to $62.26 a barrel in New York.

Government bond prices edged lower. The yield on the 10-year Treasury note rose to 2.22 per cent.