US stocks open lower; CarMax sinks on earnings

AP News
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Posted: Sep 23, 2014 9:37 AM
US stocks open lower; CarMax sinks on earnings

NEW YORK (AP) — U.S. stocks are opening lower following disappointing economic news and U.S.-led airstrikes against Islamic State militants in Syria.

The Dow Jones industrial average fell 47 points, or 0.3 percent, to 17,125 as of 9:35 a.m. Eastern time Tuesday.

The Standard & Poor's 500 fell seven points, or 0.4 percent, to 1,986. The Nasdaq dropped 19 points, or 0.4 percent, to 4,508.

CarMax fell 7 percent after reporting earnings that didn't meet analysts' expectations.

European markets fell after a closely watched gauge of business activity in the eurozone fell to a nine-month low in September. France's CAC 40 index fell 1.8 percent and the FTSE 100 in Britain fell 1.7 percent.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.55 percent.