Stocks open lower in US; Disney slumps after exec leaves

AP News
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Posted: Apr 05, 2016 9:43 AM
Stocks open lower in US; Disney slumps after exec leaves

Stocks are opening broadly lower as investors reacted to a negative assessment of the global economy by the head of the International Monetary Fund.

IMF chief Christine Lagarde warned in a speech Tuesday that the global recovery remains "too slow."

Disney slumped 2 percent after the heir-apparent to the CEO job, Tom Staggs, said he was leaving.

The Dow Jones industrial average fell 104 points, or 0.6 percent, to 17,635 as of 9:35 a.m. Eastern time.

The Standard & Poor's 500 index declined 16 points, or 0.8 percent, to 2,049. The Nasdaq composite lost 36 points, or 0.7 percent, to 4,856.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.73 percent.