US stocks open lower; Sell-off continues in Europe

AP News
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Posted: Oct 16, 2014 9:40 AM

U.S. stocks are opening lower while European markets suffer even steeper declines.

The Dow Jones industrial average fell 124 points, or 0.8 percent, to 16,019 as of 9:35 a.m. Eastern time Thursday.

The Standard & Poor's 500 index lost 19 points, or 1 percent, to 1,844. The Nasdaq composite fell 48 points, or 1.1 percent, to 4,167.

European stocks fell more sharply. France's CAC-40 dropped 2 percent and Germany's DAX declined 1.5 percent.

In the U.S., Netflix plunged 26 percent after the company's subscriber growth fell short of the company's forecasts after a rate increase.

The price of oil continued to fall. U.S. crude declines $1.43 to $80.34 a barrel in New York.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.08 percent.