Stock market live updates: Sharp losses at the open, oil slides, central banks step in

Stock market live updates: Sharp losses at the open, oil slides, central banks step in

In the last 9 trading sessions, the Dow has posted a gain or loss of more than 1,000 points on 5 occasions.. 8:44 am: Oil slides more than 3%, on pace for its worst week since the financial crisis. Oil prices slid more than 3% on Wednesday as Saudi Aramco said it had been instructed to increase its production to a record 13 million barrels per day.. For the week, US crude is down more than 19%, putting it on pace for its steepest weekly loss since the financial crisis.. The Dow is now set to drop more than 800 points, for a loss of 3.2%.. The Dow Jones Industrial Average is slated to open down nearly 800 points on Wednesday.. Traders expect the Fed to lop off the remaining quarter-point by April, putting the funds rate where it was from 2008-15, during and after the financial crisis.. Apple shares fell more than 2% in the premarket after Bank of America Securities analyst Wamsi Mohan cut his price target on the tech giant to $320 per share from $350 per share .. As volatility reigns on the Street, the last 12 days' daily average moves - in both