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Markets Right Now: Stocks open lower on Wall Street

Markets Right Now: Stocks open lower on Wall Street

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

9:35 a.m.

Stocks are opening lower on Wall Street, led by declines in materials companies and banks.

U.S.-listed shares of Deutsche Bank fell 2.3 percent early Monday after the big German bank said it plans to raise at least $8.5 billion in capital and sell a stake in its asset management businesses.

Mining companies were taking losses after China trimmed its economic growth forecast. Freeport-McMoRan slumped 4.8 percent as the price of copper fell.

The Standard & Poor's 500 index fell 11 points, or 0.5 percent, to 2,371.

The Dow Jones industrial average lost 70 points, or 0.2 percent, to 20,934. The Nasdaq composite declined 29 points, or 0.5 percent, to 5,841.


Updated : 2021-05-18 23:30 GMT+08:00