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US stocks open lower; energy sector sinks along with oil
FILE - This Jan. 4, 2010, file photo, shows an historic marker on Wall Street in New York. Worries over the global economy weighed heavily on stock markets Monday, Feb. 8, 2016, with Europe bearing the brunt of the selling. And oil prices fell further, with the benchmark New York rate below $30 a barrel again. (AP Photo/Mark Lennihan, File)

US stocks open lower; energy sector sinks along with oil

U.S. stocks moved broadly lower in early trading Monday, putting the market on track for its second sizeable loss in a row. Technology, financial and energy stocks were among the biggest decliners. The slide followed steep drops in Europe. Crude oil prices slumped again.

KEEPING SCORE: The Dow Jones industrial average fell 309 points, or 1.9 percent, to 15,903 as of 10:09 a.m. Eastern Time. The Standard & Poor’s 500 lost 34 points, or 1.8 percent, to 1,845. The Nasdaq composite dropped 98 points, or 2.3 percent, to 4,264.

TURBULENT MARKET: Several factors have investors in a selling mood this year, including falling crude oil prices and the economic slowdown in China and elsewhere. Traders will be monitoring several big company earnings this week to see what management teams say about their prospects for future earnings.

ROUGH RIDE: Cognizant Technology Solutions was among the biggest decliners in the S&P 500 index. The consulting company lost $3.91, or 6.7 percent, to $54.63.

MARKETS OVERSEAS: Among Europe’s main indexes, Germany’s DAX fell 3.1 percent, while France’s CAC 40 dropped 2.8 percent. The FTSE 100 index of leading British shares slid 2.1 percent. In Asia, many markets were closed for the Lunar New Year holidays. Japan’s benchmark Nikkei 225 rose 1.1 percent, while Australia’s S&P/ASX 200 was flat.

ENERGY: Benchmark U.S. crude oil was down 68 cents, or 2.2 percent, to $30.21 a barrel in New York. Brent crude, a benchmark for international oils, was down 54 cents or 1.6 percent, to $33.52 a barrel in London.

BONDS AND CURRENCIES: Bond prices rose. The yield on the 10-year Treasury note fell to 1.77 percent from 1.84 percent late Friday. The euro was down at $1.1129 while the dollar fell to 116.05 yen.

In related news, Energy loans likely to cause further losses for big banks.

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