Nasdaq Leads Losers as Stocks Slide at the Open - TheStreet

Nasdaq Leads Losers as Stocks Slide at the Open

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Stocks opened lower with the

Nasdaq Composite Index

leading the way down in the early going after another rough overseas session.

The

Dow Jones Industrial Average

was down 69 to 7773. The

S&P 500

was down 10 to 1007, while the Nasdaq Composite was down 31 to 1663 and the

Russell 2000

was down 5 to 358.

Treasuries continued to rally on their old friend flight to quality, as the yield on the 30-year Treasury bond continued to trade below the 5% level. The long bond was recently up 23/32 to 108 30/32, yielding 4.93%.

The

Nikkei

fell to a new 12-year low and stock markets in Europe fell dramatically.

Most Up at Open -- NYSE

AngloGold (AU) - Get Report, up 3/4 to 18 1/2

:

Eli Lilly

(LLY) - Get Report

and ICOS agreed to form a joint venture to develop and globally commercialize pills to treat sexual dysfunction in both men and women.

Most Down at Open -- NYSE

IBM (IBM) - Get Report, down 3 7/16 to 125 1/16

: The morning's news on IBM probably isn't what's knocked it down early.

AT&T

(T) - Get Report

is in talks to buy IBM's

Global Network

unit. The unit has been valued at around $4 billion,

The Wall Street Journal

has reported. Also, IBM received a five-year, $2 billion contract from

Boeing

(BA) - Get Report

.

Most Down at Open -- Nasdaq

CBT Group ( (CBTSY) CBTSY ADR), down 6 1/4 to 7 1/4

: The software company said its chairman and CEO and its CFO have resigned. Earlier this week, the company said third-quarter revenue and earnings would come in below expectations because of softness in Europe and the loss of a significant order.