A currency trader passes by screens showing the Korea Composite Stock Price Index (KOSPI), center, and the foreign exchange rate between U.S. dollar and South Korean won, right, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, June 18, 2021. Asian shares mostly rose Friday, as investors digested the latest message from the U.S. Federal Reserve on raising short-term interest rates by late 2023. (AP Photo/Ahn Young-joon)

NEW YORK (AP) – Stocks are opening broadly lower on Wall Street, putting the S&P 500 index on track for its first losing week in the last four. The benchmark index gave up 0.8% in the early going Friday, with banks and technology companies leading the way lower. Investors are still trying to assess how soon the Federal Reserve will start to raise interest rates from their ultra-low levels and scale back its bond purchases. The head of the St. Louis branch of the Federal Reserve, James Bullard, told CNBC early today that the first interest rate increase could come as soon as next year.