Stocks open lower, dragged down by energy and technology

AP News
|
Posted: Jan 27, 2016 9:41 AM
Stocks open lower, dragged down by energy and technology

NEW YORK (AP) — Stock are opening broadly lower as energy companies take another tumble and after Apple predicted its first sales decline in 13 years.

Crude oil prices sank 1 percent to $31 a barrel in New York Wednesday, pulling big energy companies lower.

Apple dropped 4 percent, weighing on the technology sector.

Boeing delivered a disappointing earnings forecast. That dragged its stock down almost 8 percent.

The Dow Jones industrial average was off 130 points, or 0.8 percent, to 16,045 in early trading.

The Standard & Poor's 500 index declined six points, or 0.3 percent, to 1,898. The Nasdaq composite dropped 19 points, or 0.4 percent, to 4,547.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.03 percent.