Stocks are opening broadly lower on Wall Street Monday, following declines overseas and extending a weak patch that has brought the U.S. market down over the past two weeks.
The S&P 500 was down 1.3% in the early going. The benchmark index hasn’t had a decline of more than 1% since mid-August. Hong Kong’s main index dropped 3.3%, its biggest loss since July, over worries about ripple effects from the severe troubles of the debt-laden Chinese real estate company Evergrande. European markets were also down about 2%. The yield on the 10-year Treasury dropped to 1.32% as investors turned to lower-risk assets.
More to come…
