In keeping with global stocks, US shares opened lower on the final day of the trqading week as the oil price decline and weak Chinese data hit sentiment.
The Dow Jones is down 0.33% at the time of writing, while the S&P is down 0.36%%. The tech heavy Nasdaq is 0.17% lower. In London, FTSE100 is down well over 1% (1.22%) at 6,382.
Chinese factory production data for last month slowed more than estimated - from 7.7% to 7.2% year-on-year.
In addition, the price of crude is now at a five year low amid a general slwodown of overseas markets.
The dramatic decline of oil is fuelling fears over global deflation with some experts raising the potential for recessions and depressions.
Earlier, Alastair McCaig, at IG Index, said: "Oil prices continue to dominate the markets as the International Energy Agency lowered oil demand expectations for the fourth time in five months."
In terms of corporate matters, energy stocks fell lower today. Chevron was down 1.39%, while Firstenergy dropped 0.36%.
In London, oil services group Petrofac (LON:PFC) was the biggest laggard - down 4.9%.