Wall Street opens lower as crude prices slide

February 24, 2016 09:13 AM

U.S. stocks were lower at the open on Wednesday as crude prices slid after top producer Saudi Arabia ruled out production cuts to help tackle a global glut.

The Dow Jones Industrial Average fell 90.26 points, or 0.55%, to 16,341.52.

The S&P 500 lost 12.61 points, or 0.66%, to 1,908.66 and the Nasdaq Composite Index dropped 48.64 points, or 1.08%, to 4,454.94.

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Abhiram Nandakumar, Reuters