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US: Stocks open lower on poor German data, weaker IMF outlook

Tuesday, October 7, 2014 - 22:19
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- PHOTO: REUTERS

[NEW YORK] US stocks opened lower on Tuesday following weak German economic data and a downgrade to the 2014 global growth forecast by the International Monetary Fund.

About 35 minutes into trade, the Dow Jones Industrial Average stood at 16,877.85, down 114.06 points or 0.67 per cent.

The broad-based S&P 500 fell 11.79 to 1,953.03, while the tech-rich Nasdaq Composite Index dropped 30.91 to 4,423.89.- AFP