Markets Right Now: US Stocks Open Broadly Lower – ABC News

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The latest on developments in global financial markets (all times local):

9:35 a.m.

Stocks are opening broadly lower as traders were discouraged by more signs of weakness in China’s economy.

Two surveys showed sluggishness in China’s manufacturing in May, which helped pull the price of crude oil down 2 percent to just under $48 a barrel.

Apparel maker Under Armour slumped 5 percent after the company warned that its results would be hurt by the bankruptcy of the sporting good retail chain Sports Authority.

The Dow Jones industrial average fell 111 points, or 0.6 percent, to 17,675. The Standard and Poor’s 500 index slipped 11 points, or 0.5 percent, to 2,085. The Nasdaq composite lost 19 points, or 0.4 percent, to 4,927.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.81 percent.