3/24, 2:31 PM (Source: TeleTrader)
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US opens lower as banking sector saga continues

Stock markets in the United States opened Friday's session in negative territory, as the banking crisis sprang back to life. Deutsche Bank's shares plummeted following a sudden jump in credit default swaps that insure bondholders against default, pulling the markets in the Old Continent down. The echoes of this week's Federal Reserve's rate hike also affected the traders, as well as the incoming business activity preliminary report for March.

The Dow Jones Industrial Average plunged 0.51% or 160 points at the open. The worst performer was Dow Inc., dropping 2.10%. The Nasdaq 100 declined 0.16%, with Diamondback Energy losing 2.46%. The S&P 500 decreased by 0.44%, as Penn Entertainment went down 5.13%.

The euro traded 0.72% lower against the dollar to change hands for 1.07531 at 9:28 am ET.

Baha Breaking News (BBN) / MX