Stocks open lower on Wall Street, led by banks

Associated Press
FILE - This July 15, 2013 file photo shows a sign for Wall Street outside the New York Stock Exchange, in New York. Asian stocks rose Thursday, June 26, 2014, tracing gains on Wall Street, where shares shrugged off a poor quarterly economic report as a blip and instead factored in rebounding growth even as policymakers maintain ultralow interest rates. (AP Photo/Mark Lennihan, File)

NEW YORK (AP) — Stocks are moving lower on Wall Street, led by a decline in banks.

Barclays fell after New York's attorney general sued the British bank, saying that it misled large institutional investors by saying it was protecting them from predatory high-frequency traders. Barclays' U.S.-listed shares fell 6 percent.

Bed Bath & Beyond plunged 8 percent after the company posted earnings and sales that fell short of analysts' estimates.

The Dow Jones industrial average fell 68 points, or 0.4 percent, to 16,798 as of noon Eastern time Thursday.

The Standard & Poor's 500 index fell 14 points, or 0.8 percent, to 1,945 and the Nasdaq composite fell 30 points, or 0.7 percent, to 4,349.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.52 percent.