MARKETS OPENING | Banks, tech lead US stocks lower

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

9:35 a.m.

Banks and technology companies are leading U.S. stocks lower in early trading on Wall Street.

Bank of America fell 1 percent and chipmaker Nvidia gave up 1.5 percent Monday.

Blue Apron dropped 4 percent after Walmart said it would expand its meal kit service into 2,000 stores.

Insurer XL Group soared 29 percent after the company agreed to be acquired by AXA of France.

The Standard & Poor’s 500 index fell 8 points, or 0.3 percent, to 2,683. The Nasdaq composite lost 20 points, or 0.3 percent, to 7,236.

The Dow Jones industrial average fell 64 points, or 0.2 percent, to 24,480.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.84 percent.

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