U.S. stock indexes on Wednesday opened firmly lower, putting the Dow Jones Industrial Average on track to hit its lowest level since late October as a broad commodity downturn whacks investor sentiment. The Dow opened off 150 points, or 0.7%, at 23,258, putting it on pace to hit the lowest level since late Oct. 25, according to FactSet data. The S&P 500 index was off 0.8% at 2,558, while the Nasdaq Composite Index was off 1% at 6,669. The latest retreat in equity benchmarks has been attributed partly to a sharp slide in crude-oil futures, with West Texas Intermediate oil trading on the New York Mercantile exchange off 2.8% so far this week.
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