Markets Right Now: US stocks open slightly lower

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

9:35 a.m.

Stocks are opening slightly lower on Wall Street as the market gives back some of the ground it gained a day earlier.

Banks and energy companies had the biggest losses in early trading Friday.

Electric car maker Tesla plunged 12 percent after the Securities and Exchange Commission sought to remove Elon Musk as CEO, accusing him of securities fraud.

European markets fell broadly over concerns that Italy’s populist government announced a sharp increase in spending that will add to the country’s already heavy debt load.

The S&P 500 index fell 3 points, or 0.1 percent, to 2,910.

The Dow Jones Industrial Average slipped 32 points to 26,407. The Nasdaq fell 9 points, or 0.1 percent, to 8,034.

Bond prices rose. The yield on the 10-year Treasury fell to 3.04 percent.

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