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Markets Right Now: Stocks open broadly lower on Wall Street

Markets Right Now: Stocks open broadly lower on Wall Street | iNFOnews.ca
FILE - In this April 26, 2018, file photo, a sample of license plates for sale at a souvenir stand are shown in front of the New York Stock Exchange in the Financial District in New York. The U.S. stock market opens at 9:30 a.m. EDT on Thursday, May 3. (AP Photo/Kathy Willens, File)

NEW YORK – The latest on developments in financial markets (all times local):

9:35 a.m.

Stocks are opening broadly lower on Wall Street, putting the market on track for its third decline this week.

Financial companies and health care stocks contributed the most to the declines in early trading on Thursday.

AIG slumped 8.4 per cent and Cardinal Health, a drug distributor, sank 14.5 per cent. Both companies reported weak results for their latest quarter.

Electric car maker Tesla dropped 6.2 per cent after reporting another quarter of heavy cash burn.

The S&P 500 index slid 17 points, or 0.7 per cent, to 2,618.

The Dow Jones industrial average fell 181 points, or 0.7 per cent, to 23,748. The Nasdaq composite fell 43 points, or 0.6 per cent, to 7,057.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.95 per cent.

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Abbey Westbury

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