Markets Right Now: Stocks open lower on Wall Street
NEW YORK (AP) — The latest on developments in financial markets (all times local):
Stocks are opening broadly lower on Wall Street, led by declines in banks and technology companies.
Wells Fargo lost 1 percent and chipmaker Micron Technology gave up 1.3 percent.
The early declines threatened to end a five-day winning streak for the market, its longest since September.
Activision Blizzard plunged 12 percent, the most in the S&P 500 index, after announcing that its eight-year partnership with game developer Bungie was ending. The companies’ most successful collaboration was its Destiny series.
The S&P 500 fell 13 points, or 0.5 percent, to 2,583.
The Dow Jones Industrial Average lost 132 points, or 0.6 percent, to 23,863. The Nasdaq gave up 41 points, or 0.6 percent, to 6,944.
Bond prices rose. The yield on the 10-year Treasury fell to 2.69 percent.