The markets opened lower as investors worried about spreading credit problems. The Dow lost 25 points to 12,715 while Nasdaq dropped 20 points to 2454.
On the upside
On the downsideCapital One Financial (NYSE: COF) lowered its 2007 earnings forecast due to delinquent loans and a $1.9 billion provision for loan losses.
In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on both the NYSE and Nasdaq. The Russell 2000 which tracks small cap stocks dropped 6 points to 705.