US Stocks Open Slightly Lower

US Stocks Open Slightly Lower

(AP) -- U.S. stocks moved slightly lower in early trading Thursday, extending losses following the worst market drop since September. Investors had their eye on the latest company earnings and outlooks. Consumer discretionary stocks were among the biggest decliners.

KEEPING SCORE: The Dow Jones industrial average edged down 35 points, or 0.2 percent, to 16,124 as of 10:08 a.m. Eastern Time. The Standard & Poor's 500 index fell four points, or 0.2 percent, to 1,885. The Nasdaq composite dropped 37 points, or 0.8 percent, to 4,487.

TURBULENT RUN: The market is coming off a broad downturn on Wednesday that sent the S&P 500 index into what's known as a correction, or a drop of 10 percent or more from its recent peak. The slump through the first eight trading days of 2016 represents the worst start to a year in the history of both the S&P 500 and the Dow. The turbulent run reflects mounting worries on Wall Street about the slowdown in China, plunging oil prices and the implications for U.S. corporations.

HOLIDAY BLUES: Best Buy slid 11.6 percent after the electronics store operator reported a drop in sales during the holiday season. The company also said it expects a wider drop in fourth-quarter revenue, partly on weak mobile phone and personal device sales. The stock shed $3.39 to $25.87.

SHAKY CAM: GoPro slumped 17.8 percent a day after the wearable camera maker disclosed plans to eliminate about 100 jobs. The move comes after the company's fourth-quarter sales fell far short of its expectations. GoPro lost $2.61 to $12.

GOOD QUARTER: JPMorgan Chase rose 0.6 percent after the bank reported earnings that were better than analysts expected. The stock added 33 cents to $57.67.

OIL PRICES: A day after U.S. crude oil briefly fell below $30 a barrel for the first time since late 2003, it was up 44 cents, or 1.4 percent, to $30.90 a barrel in New York. Brent crude, a benchmark for international oils, was down 25 cents to $30.02 a barrel in London.

OVERSEAS: In Europe, Germany's DAX dropped 2.3 percent and France's CAC 40 slid 2.3 percent. The FTSE 100 index of leading British shares was 1.3 percent lower. In Asia, Japan's benchmark Nikkei 225 dived 2.7 percent, South Korea's Kospi fell 0.9 percent and Hong Kong's Hang Seng lost 0.6 percent. The Shanghai Composite rebounded nearly 2.0 percent.

BONDS AND CURRENCIES: Bond prices rose. The yield on the 10-year Treasury note fell to 2.06 percent from 2.09 percent late Wednesday. The euro rose to $1.0904 from $1.0876, while the dollar fell to 117.56 yen from 117.78 yen.

(KA)