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

9:35 a.m.

Stocks are opening slightly lower as banks continue to slide in tandem with interest rates.

Bank of America fell 1.5 percent on Wednesday and Citigroup fell 1 percent as interest rates continued to retreat from their recent highs, which reduces the profits banks make from lending.

Social media site Snap sank 10 percent after it reported weak user growth and a big loss in its latest quarter.

The Standard & Poor's 500 index fell 3 points, or 0.2 percent to 2,586.

The Dow Jones industrial average lost 27 points, or 0.1 percent, to 23,530. The Nasdaq composite declined 4 points to 6,763.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.