U.S. Stocks Off to a Losing Start

Updated from 9:11 a.m. EST

U.S. stocks opened with losses Wednesday, as reports suggested the Treasury Department, the Federal Reserve and other government agencies were tweaking their plans to intervene in the most troubled corners of the financial markets.

The Dow Jones Industrial Average lost 173 points to 8521, and the S&P 500 gave back 19 points to 880. The Nasdaq slid 26 points to 1555.

The status of programs to quell turmoil in the financial space was occupying investor attention. The Wall Street Journal reported ahead of Wednesday's session that the Treasury may begin to require companies to raise private money before gaining access to the $700 billion Troubled Asset Relief Program.

The Journal also reported that American Express (AXP Quote), which on Monday had become a bank-holding company and thus eligible for funds from the Fed, was attempting to get $3.5 billion in capital injections from the government.

Treasury Secretary Henry Paulson is also slated to offer an update on the progress of the TARP Wednesday.

Meanwhile, a report by Bloomberg indicated the Fed is attempting to become the main regulator for the credit-default swaps market. The Fed and other government agencies are working to develop a clearinghouse for the $33 trillion CDS market.

The government also was moving toward aid for the automakers. House Speaker Nancy Pelosi suggested financial assistance for the industry, which includes General Motors (GM Quote), Ford (F Quote) and Chrysler. GM and Ford last Friday announced troubling quarterly losses that led some to question the future viability of the U.S. auto sector.

In the energy sector, Exelon (EXC Quote) announced it would take its buyout bid for NRG Energy (NRG Quote) straight to shareholders after NRG on Monday rejected Exelon's offer.

As for technology companies, Microsoft (MSFT Quote) is working on a deal with Verizon (VZ Quote) to provide the default search software for Verizon Wireless' phones, according to a report by the Journal.