U.S. stocks are pushing lower on Friday, following the downward trend of global stocks with the recent plunge in crude oil and energy stocks weighing down sentiment and making investors feel less confident.
The price of crude oil (WTI) dropped below $35 on Thursday and is set for a third week of losses with ample global supplies in the market, weak global growth, and no productions from OPEC weighing down the price of oil.
The Japanese Nikkei 225 slumped nearly 2 percent and the dollar fell against the yen after the Bank of Japan announced on Friday additional measures for its quantitative easing program on Friday that were not as bold as investors expected.
The Japanese central bank said it will extend the average remaining maturity of Japanese government bonds it purchases by two years (7-12 years versus 7-10 years) but keeping printing money at the same pace.
The Bank of Japan will buy another ¥300 billion of exchange-traded funds besides the ¥3 trillion in ETFs it has purchased since 2014.