US stocks fall on lower oil, weak trade forecast
US stocks opened slightly lower Tuesday with petroleum-linked shares retreating on news suggesting a deal of major producers to limit oil output was less likely.
Dow member Chevron lost 0.7 percent and Halliburton fell 2.0 percent after Iran Oil Minister Bijan Zanganeh said he was not ready to sign off on an agreement this week at a much-anticipated gathering in Algeria.
Analysts also pointed to a forecast from the World Trade Organization projecting global trade to expand by just 1.7 percent this year, compared to its April projection of 2.8 percent.
Five minutes into trade, the Dow Jones Industrial Average was at 18,077.37, down 0.1 percent.
The broad-based S&P 500 shed 0.1 percent to 2,143.87, while the tech-rich Nasdaq Composite Index dropped less than 0.1 percent to 5,256.68.