Markets Right Now: Banks, energy companies take stocks lower

NEW YORK (AP) — U.S. stocks are opening slightly lower, led by losses in banks after Britain announced it will formally trigger the process of leaving the European Union on March 29.

Britain’s departure from the EU will start a long negotiation with uncertain effects for banks and other companies. It is expected to become official in early 2019.

Major indexes in Europe are also lower Monday.

Energy companies are falling as the price of U.S. crude slips about 1 percent. Drilling rig operator Transocean slid 3.8 percent.

The Standard & Poor’s 500 index lost 3 points, or 0.1 percent, to 2,374.

The Dow Jones industrial average sank 5 points to 20,909. The Nasdaq composite dipped 4 points, or 0.1 percent, to 5,896.