US markets open on a soft note, continuing weakness from the day before; European markets gain

MarketsAssociated Press

Stocks are opening April on a weak note, continuing their downward trajectory from the day before.

The Dow Jones industrial average gave up 94 points, or 0.6 percent, to 17,660 as of 9:35 a.m. Eastern time Wednesday. The Dow slumped 200 points on Tuesday.

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The Standard & Poor's 500 index lost 11 points, or 0.5 percent, to 2,056. The Nasdaq composite declined 24 points, or 0.5 percent, to 4,876.

European markets rose after an encouraging report that factory output in the region was at a 10-month high in March.

The price of oil rose 34 cents to $47.94 a barrel in New York.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.88 percent.