NEW YORK, Sept. 16 (Xinhua) - US stocks opened lower on Monday as a surge in oil prices in the wake of the attacks on oil facilities in Saudi Arabia over the weekend rattled investors.

Traders work on the floor at the New York Stock Exchange (NYSE) in New York, US, September 5, 2019. (Photo: VCG)

Shortly after the opening bell, the Dow Jones Industrial Average dropped 59.96 points, or 0.22 percent, to 27,159.56. The S&P 500 slid 8.85 points, or 0.29 percent, to 2,998.54. The Nasdaq Composite Index decreased 39.80 points, or 0.49 percent, to 8,136.92.

Nine of the 11 primary S&P 500 sectors declined, with both consumer discretionary and financials down more than 0.8 percent shortly after the opening, leading the laggards. Energy group soared more than 3 percent.   

Oil prices jumped after the attacks on Saudi oil fields over the weekend caused disruption of oil production in the region.

Even a temporary spike in oil prices can be disruptive, particularly at a time when the global economy is already showing weakness from other causes, experts noted. 

In the week ending Sept. 13, US equities extended modest gains as the market was underpinned by a batch upbeat data.