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