Wall Street opens lower after Citi results, China trade data

FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., January 10, 2019. REUTERS/Brendan McDermid

(Reuters) – U.S. stocks opened lower on Monday in broad-based declines after Citigroup posted an unexpected fall in revenue, adding to fears of a sharper slowdown in global economic growth that resurfaced after data showed an unexpected drop in China’s trade.

The Dow Jones Industrial Average .DJI fell 115.42 points, or 0.48 percent, at the open to 23,880.53. The S&P 500 .SPX opened lower by 15.95 points, or 0.61 percent, at 2,580.31. The Nasdaq Composite .IXIC dropped 63.45 points, or 0.91 percent, to 6,908.03 at the opening bell.

Reporting by Amy Caren Daniel in Bengaluru; Editing by Shounak Dasgupta

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