Markets Right Now: US stocks open lower

AP News
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Posted: Oct 13, 2016 9:43 AM

NEW YORK (AP) — The latest on developments in global financial markets (all times local):

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9:35 a.m.

Stocks are opening broadly lower on Wall Street following a surprisingly weak trade report from China.

Miners and other companies that make basic materials fell the most in early trading Thursday. Many of those companies rely heavily on exports to China, the world's second-largest economy.

Copper miner Freeport-McMoRan slumped 6 percent, the biggest loss in the Standard & Poor's 500 index.

Delta Air Lines slumped 3 percent after reporting revenue that fell short of forecasts.

The Dow Jones industrial average fell 121 points, or 0.7 percent, to 18,022.

The Standard & Poor's 500 index declined 16 points, or 0.8 percent, to 2,122. The Nasdaq composite fell dropped 43 points, or 0.8 percent, to 5,195.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.74 percent.