Wall Street tumbles 1% at the open

US stock indices opened the last session of the week lower, weighed down by tech losses today, which outweighed oil gains after OPEC and Russia announced a deal to cut output by 1.2 million bpd, while earlier US labor data were a bit disappointing, with the pace of Fed rate hikes expected to slow down next year. 

Earlier US data showed the unemployment rate steadied at 3.7% in November as expected, the lowest since 1969. 

US average earnings rose 0.2% in November, missing estimates of 0.3% and matching the pace of October. 

The US economy added 155 thousand new jobs in November, missing estimates of 198K, and compared to October's 237K increase, revised from 250K. 

Wholesale inventories rose 0.8% in October, above 0.4% in September and past estimates of a 0.7% increase. 

Finally, the University of Michigan released its consumer sentiment survey, which came at 97.5, same as November and beating estimates of 97.5.

Stock Performance 

As of 03:44 GMT, Standard and Poor's 500 shed 0.82%, or 22.03 points to 2,673.92, while Dow Jones slumped 0.85%, or 212.16 points to 24,735.51. 

Tech-heavy NASDAQ swooned 1.06%, or 75.99 points to 7,112.27.