Markets Right Now: Stocks open lower on Wall Street

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

9:35 a.m.

Stocks are opening broadly lower on Wall Street led by drops in technology and industrial companies.

Microsoft lost 1.4 percent in early trading Wednesday and 3M gave up 1.6 percent.

Sears Holdings plunged 37 percent after the Wall Street Journal reported that the struggling retailer is preparing a bankruptcy filing.

The S&P 500 index fell 15 points, or 0.6 percent, to 2,864.

The Dow Jones Industrial Average lost 117 points, or 0.4 percent, to 26,313. The Nasdaq composite fell 73 points, or 1 percent, to 7,663.

Bond prices fell. The yield on the 10-year Treasury rose to 3.23 percent.

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