US STOCKS-Major indexes fall more than 1 pct as oil prices plunge

viernes 11 de diciembre de 2015 10:48 GYT
 

* U.S. consumer spending rises sharply in November

* Fed to decide on interest rate hike next week

* DuPont, Dow Chemical fall after agreeing to merge

* Indexes down: Dow 1.31 pct, S&P 1.18 pct, Nasdaq 1.05 pct (Updates to open)

By Tanya Agrawal

Dec 11 (Reuters) - U.S. stocks opened sharply lower on Friday, with all three major indexes falling more than 1 percent, as crude oil prices plumbed levels not seen in seven years on growing oversupply concerns.

The International Energy Agency said it sees the oil glut worsening in 2016 as demand slows and OPEC shows no signs of slowing production.

The steep drop in oil prices adds to investor uncertainty as the U.S. Federal Reserve prepares to raise interest rates for the first time since June 2006 at its meeting next week.

Adding to the somber mood, China's yuan fell to its lowest in 4-1/2 years on concerns about the country's slowing economy and expectations of a U.S. rate hike.   Continuación...