Weak open on Wall Street; Boeing drops on 787 woes

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Associated Press

Posted on January 16, 2013 at 9:00 AM

Updated Wednesday, Jan 16 at 9:02 AM

NEW YORK (AP) — Stocks are opening lower on Wall Street after the World Bank said that ongoing budget fights in Washington pose a significant risk to the global economy.

Boeing dropped nearly 4 percent after Japan's two biggest airlines grounded all their 787 aircraft for safety checks after one was forced to make an emergency landing. It was the latest embarrassment for Boeing's new plane.

The Dow Jones industrial average fell 64 points to 13,470 shortly after the opening bell Wednesday. Boeing fell the most of the 30 stocks in the Dow.

The Standard & Poor's 500 index fell four points to 1,468. The Nasdaq composite gave up three points to 3,107.

Goldman Sachs rose 2 percent after the investment bank reported that its profits nearly tripled.

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