NEW YORK (AP) – Shares opened lower on Wall Street on Friday, led by declines in banks after regulatory authorities told them they had to limit their dividends and stop stock buybacks to bolster their defenses in case make the recession worse.

At 9:56 in the morning, the S&P index; 500 fell 25.61 points (0.83%) to 3,058.15 units, while the Dow Jones industrial average fell 306.17 (1.19%) to 25,439.43.

The Nasdaq compound fell 83.98 (0.84%) to 9,933.02.