Markets Right Now: US stocks open lower on Wall Street - KWWL - Eastern Iowa Breaking News, Weather, Closings

Markets Right Now: US stocks open lower on Wall Street

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By The Associated Press:

Banks and industrial companies are leading stocks lower on Wall Street in early trading.
   
Morgan Stanley lost 4.5 percent early Monday and copper miner Freeport-McMoRan slumped 5 percent.
   
Traders are worrying that the defeat of the Republican-backed health care reform bill last week will mean more difficulty getting tax cuts and other part of President Donald Trump's agenda passed.
   
The Standard & Poor's 500 lost 20 points, or 0.9 percent, to 2,323.
   
The Dow Jones industrial average gave back 161 points, or 0.8 percent, to 20,437. The Nasdaq composite declined 55 points, or 1 percent, to 5,773.
   
Small-company stocks fell more than the rest of the market.
   
Bond prices rose. The yield on the 10-year Treasury note fell to 2.35 percent.
 

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