US stocks open lower following drop in Japan

AP News
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Posted: Nov 17, 2014 9:41 AM

U.S. stocks are mostly lower in early trading following a sharp drop in Japan overnight.

U.S. markets are coming off their latest record high.

The Standard & Poor's 500 index edged down two points, or 0.1 percent, to 2,037 as of 9:35 a.m. Eastern time Monday.

The Dow Jones industrial average slipped 15 points, or 0.1 percent, to 17,618.

The Nasdaq composite fell five points, or 0.1 percent, to 4,683.

In Japan, the benchmark Nikkei stock index sank 3 percent following news that the country unexpectedly slid into recession in the third quarter of the year.

The price of oil fell 96 cents to $74.94 a barrel in New York.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.31 percent.