Markets Right Now: Stocks open slightly lower on Wall Street

NEW YORK (AP) — The latest on developments in global financial markets (all times local): 9:35 a.m. Stocks are opening slightly lower on Wall Street, led by declines in health care and real estate companies. Merrimack Pharmaceuticals, which develops cancer drugs, slumped 2 percent after...

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

9:35 a.m.

Stocks are opening slightly lower on Wall Street, led by declines in health care and real estate companies.

Merrimack Pharmaceuticals, which develops cancer drugs, slumped 2 percent after announcing that it would cut almost a quarter of its workforce and would look for a new CEO.

The Dow Jones industrial average fell 85 points, or 0.5 percent, to 18,222.

The Standard & Poor's 500 index lost 8 points, or 0.4 percent, to 2,160. The Nasdaq composite declined 11 points, or 0.2 percent, to 5,299.

Bond prices didn't move much. The yield on the 10-year Treasury note held steady at 1.60 percent.

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