US stocks open slightly lower after sharp two-day surge

US stocks open slightly lower after sharp two-day surge

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NEW YORK (AP) — U.S. stocks are opening slightly lower after a sharp two-day surge, as the stock market closes out a wild week.

Stocks fell heavily in the first two days of trading on concerns about the health of China's economy. The market then rebounded over the next two days.

The Dow Jones industrial average fell 53 points, or 0.3 percent, to 16,602 as of 9:36 a.m. Eastern time Friday.

The Standard & Poor's 500 index dropped five points, or 0.2 percent, to 1,984. The Nasdaq composite fell 11 points, or 0.2 percent, to 4,801.

Bonds rose, pushing down the yield on the benchmark 10-year Treasury note to 2.14 percent from 2.18 percent on Thursday.

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