US stocks open lower as market heads for a second loss

Staff Writer
Columbus CEO

NEW YORK (AP) — U.S. stocks are opening lower, putting the market on track for a second day of losses.

Material companies were among the biggest decliners in early trading Wednesday. Aluminum maker Alcoa sank 5 percent, the most in the Standard & Poor's 500 index.

Abercrombie & Fitch sank 8 percent after its revenue came up short of what investors were looking for.

The Dow Jones industrial average fell 126 points, or 0.7 percent, to 18,078 as of 9:35 a.m. Eastern time.

The Standard & Poor's 500 index lost 14 points, or 0.7 percent, to 2,093. The Nasdaq composite declined 32 points, or 0.7 percent, to 4,946.

The price of oil edged up 30 cents to $50.81 a barrel in New York.