NEW YORK (AP) — U.S. stocks are opening lower on renewed worries about the outlook for global growth.

The Dow Jones industrial average fell 197 points, or 1.2 percent, to 16,313 as of 9:38 a.m. Eastern Tuesday. The Standard & Poor's 500 index dropped 24 points, or 1.2 percent, to 1,942 and the Nasdaq composite fell 65 points, or 1.4 percent, to 4,761.

The price of oil fell sharply, pushing energy stocks lower. Drugmakers also fell, adding to their losses from Monday, when they plunged on concerns about new regulations.

Government bond prices rose, pushing down the yield on the benchmark 10-year Treasury note down to 2.16 percent from 2.20 percent a day earlier.