Helping prices move lower, a report in the FT suggesting the U.S., Japan, U.K., and France are in talks to release supply to the market. We are also seeing selling pressure in overseas commodity-based stocks, including VALE, PBR, and X.
In equities, the DJIA is pushing triple-digit losses at the moment, down 0.7%, while the S&P 500 and NASDAQ indices have shed 0.8%. Apple (AAPL) is around the flat-line for the day after dipping into negative territory early in the session.
Data early in the session set a negative tone for the day. February headline durable goods orders gained 2.2%, below the 3% consensus figures. Overseas, UK economic growth contracted by 0.3% in Q4.