Markets Right Now: Stocks are opening lower on Wall Street

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

9:35 a.m.

Stocks are opening lower on Wall Street, led by declines in banks and industrial companies.

Retailers were also taking big losses in early trading Tuesday. Michael’s, Conn’s and Casey’s General Stores all fell sharply after releasing results or forecasts that disappointed investors.

The Standard & Poor’s 500 index fell 7 points, or 0. percent, to 2,428.

The Dow Jones industrial average lost 61 points, or 0. percent, to 21,120. The Nasdaq slipped 12 points, or 0.2 percent, to 6,283.

Small-company stocks fell more than the rest of the market. The Russell 2000 gave up 9 points, or 0.6 percent, to 1,386.

Bond prices rose. The yield on the 10-year Treasury fell to 2.14 percent.