NEW YORK, Nov. 15 (Xinhua) -- U.S. stocks opened lower on Wednesday as market sentiment was dented by dropping oil prices and shares of General Electric(GE).
Shortly after the opening bell, the Dow Jones Industrial Average lost 121.33 points, or 0.52 percent, to 23,288.14. The S&P 500 decreased 13.61 points, or 0.53 percent, to 2,565.26. The Nasdaq Composite Index was down 40.59 points, or 0.60 percent, to 6,697.28.
Oil prices dropped nearly 2 percent on Wednesday after the International Energy Agency cut its outlook for oil demand growth by 100,000 barrels per day for 2017 and 2018.
The Dow-component GE stocks slide further on Wednesday after slumping more than 12 percent in the previous two sessions, amid investors' worries about the company's newly-announced restructuring plan.
On the U.S. economic front, the Labor Department said on Wednesday its Consumer Price Index (CPI) edged up 0.1 percent last month after jumping 0.5 percent in September.
Meanwhile, the year-on-year increase in the CPI went down to 2.0 percent from 2.2 percent in September. The latest readings were in line with market expectations. Enditem
