Markets Right Now: US stocks open lower on Wall Street

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

Stocks are opening broadly lower, led by industrial and technology companies.

American Airlines slumped 3.1 percent in early trading Monday, and Cognizant Technology Solutions lost 2.4 percent.

Rite Aid plunged 18 percent after Walgreen Boots Alliance cut the price it will pay to buy its rival.

Fitbit dropped 12 percent after reporting that it sold fewer of its wearable fitness devices in the fourth quarter than it had anticipated. It also said it would cut jobs.

The Standard & Poor’s 500 index fell 12 points, or 0.6 percent, to 2,282.

The Dow Jones industrial average lost 88 points, or 0.4 percent, to 20,006. The Nasdaq composite gave up 44 points, or 0.8 percent, to 5,615.

Bond prices edged lower. The yield on the 10-year Treasury note rose to 2.49 percent.