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US stocks open lower, led by declines in energy and mining companies as commodity prices fall

Stocks are opening lower, led by declines in energy and mining companies as prices for oil and other commodities fall.

Exxon Mobil fell 1.5 per cent in early trading Monday, the most in the Dow Jones industrial average. Mining company Freeport-McMoRan sank 7 per cent.

The Dow average was down fell 85 points, or 0.5 per cent, to 17,466 as of 9:35 a.m. Eastern time Monday.

The Standard & Poor’s 500 index lost eight points, or 0.4 per cent, to 2,052. The Nasdaq composite declined 16 points, or 0.4 per cent, to 5,030.

The price of crude oil fell almost 3 per cent to $37 a barrel in New York.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.24 per cent.