US stocks open sharply lower; Nasdaq -2.0%

Advertising

New York (AFP)

Wall Street stocks dropped sharply in opening trade Monday with petroleum-linked shares and technology equities falling hard after another drop in oil prices.

Five minutes into trade, the Dow Jones Industrial Average was down 1.34 percent, the S&P 500 1.45 percent and the Nasdaq Composite Index 1.97 percent.

Amazon dropped 3.4 percent and Facebook shed 4.1 percent.

Among petroleum-linked stocks, ConocoPhillips fell 3.0 percent, Anadarko Petroleum 6.0 percent and oil-services company Weatherford International 4.9 percent.