US stocks open lower; Sell-off continues in Europe

Staff Writer
Columbus CEO

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.