You are here

US:Wall St opens sharply lower on China woes

US stocks fell in opening trade Monday, kicking off a week that includes earnings from Wal-Mart Stores and the release of Federal Reserve meeting minutes.

[NEW YORK] US shares headed sharply lower for a third day in opening trade Friday as China's economic troubles fueled another day of equity selloffs around the globe.

The selling pummeled shares across the board, with tech stocks hit hardest.

Ten minutes into trade, the Dow Jones Industrial Average was down 161.82 points (0.95 per cent) at 16,828.87, reaching its lowest level in 10 months. For the second day shares of aircraft maker Boeing, sensitive to the Chinese market, led falling shares on the blue-chip index with a 2.4 percent decline.

The broad-based S&P 500 dropped 18.15 (0.89 per cent) to 2,017.58, while the tech-rich Nasdaq gave up 59.99 (1.23 per cent) at 4,817.49.