Markets Right Now: US stocks open lower as sellers return
NEW YORK (AP) — The latest on developments in financial markets (all times local):
Wall Street’s wild Christmas week goes on, with the Dow Jones Industrial Average slumping 300 points at the open Thursday, a day after notching its biggest-ever point gain.
Volatility has been the norm in December. The Dow has dropped 1 percent or more in eight of the 17 trading sessions.
Even with Wednesday’s big gains, the Dow, S&P 500 and Nasdaq are all down more than 10 percent for the month.
The price of oil fell 1.8 percent after posting its biggest increase in two years Wednesday. Shares of Chevron dropped 1.6 percent.
Bank stocks fell along with Treasury yields. Bank of America, JPMorgan and Goldman Sachs slipped more than 1 percent as the yield on the the 10-year Treasury fell to 2.76 percent from 2.79 percent.