US Stocks Broadly Lower Wednesday

(AP) --Stocks are opening broadly lower, led by declines in mining companies as prices for metals and other commodities weaken.

Several companies were also moving lower Wednesday after reporting disappointing results or outlooks.

Nike, one of the 30 stocks in the Dow Jones industrial average, sank 5 percent after reporting revenue that fell far short of what analysts were looking for.

Software maker Red Hat gave up 3 percent after delivering disappointing forecasts.

The Dow average gave up 34 points, or 0.2 percent, to 17,550 as of 9:35 a.m. Eastern time.

The Standard & Poor's 500 index edged down three points, or 0.2 percent, to 2,046. The Nasdaq composite fell five points, or 0.1 percent, to 4,816.

Bond prices rose. The yield on the 10-year Treasury note rose to 1.93 percent.

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