Markets Right Now: Stocks open lower on Wall Street

The latest on developments in financial markets (all times local):

9:35 a.m.

U.S. stocks are opening mostly lower on Wall Street as losses for technology companies and banks weigh on the market.

IBM slumped 7.6 percent in early trading Wednesday after reporting revenue for the latest quarter that came in below analysts’ forecasts.

Banks were also lower. Bank of America slipped 1 percent.

Netflix soared 5.8 percent after reporting solid subscriber gains.

Stocks are coming off their biggest gain in six months.

The S&P 500 index fell 7 points, or 0.3 percent, to 2,802.

The Dow Jones Industrial Average lost 170 points, or 0.7 percent, to 25,627. The Nasdaq composite gave up 34 points, or 0.5 percent, to 7,610.

Bond prices were little changed. The yield on the 10-year Treasury note held steady at 3.15 percent.

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