Stocks open lower on Wall Street, led by banks
NEW YORK (AP) — Stocks are moving lower on Wall Street, led by a decline in banks.
Barclays fell after New York’s attorney general sued the British bank, saying that it misled large institutional investors by saying it was protecting them from predatory high-frequency traders. Barclays’ U.S.-listed shares fell 6 percent.
Bed Bath & Beyond plunged 8 percent after the company posted earnings and sales that fell short of analysts’ estimates.
The Dow Jones industrial average fell 68 points, or 0.4 percent, to 16,798 as of noon Eastern time Thursday.
The Standard & Poor’s 500 index fell 14 points, or 0.8 percent, to 1,945 and the Nasdaq composite fell 30 points, or 0.7 percent, to 4,349.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.52 percent.