US stocks open lower following declines in Europe; American Express leads the Dow lower
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Stocks are opening lower in the U.S. following steep declines in Europe and some disappointing results from big companies.
American Express slumped 4 percent early Friday, the most in the Dow Jones industrial average, after reporting revenue that missed analysts' forecasts.
Honeywell fell 2 percent after its revenue also fell short.
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The Dow was down 180 points, or 1 percent, to 17,929 in the first few minutes of trading.
The Standard & Poor's 500 index lost 13 points, or 0.6 percent, to 2,091. The Nasdaq composite fell 39 points to 4,966.
European markets fell. The DAX slumped 1.8 percent in Germany.
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Bond prices fell after the U.S. government reported a slight increase in inflation last month. The yield on the 10-year Treasury note rose to 1.90 percent.