Markets Right Now: Stocks open lower on Wall Street

Markets Right Now: Stocks open lower on Wall Street
FILE- In this Nov. 8, 2018, file photo traders Eric Schumacher, left, and Richard Deviccaro work on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Friday, Nov. 16. (AP Photo/Richard Drew, File)

NEW YORK (AP) — The latest on developments in financial markets (all times local):

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9:35 a.m.

Stocks are opening mostly lower on Wall Street, erasing some of the market’s gains from a day earlier.

Technology stocks fell more than the rest of the market in early trading Friday.

Chipmaker Nvidia plunged 19 percent after saying it had a large number of unsold chips because of a big drop in mining of cryptocurrencies.

Troubled California power provider PG&E surged 37 percent after the president of the utility’s state regulator said it was essential for a power company to have the financial strength to operate.

The S&P 500 index fell 13 points, or 0.4 percent, to 2,716.

The Dow Jones Industrial Average lost 101 points, or 0.4 percent, to 25,189. The Nasdaq composite lost 77 points, or 1.1 percent, to 7,181.