US markets open with losses

U.S. markets headed lower Wednesday after the Commerce Department confirmed the first quarter gross domestic product rose a sluggish 1.9 percent. The gain was in line with expectations. It was the third of three estimates released by the department on the GDP, which rose 3 percent in the fourth quarter of 2011. In midmorning trading on Wall Street, the Dow Jones industrial average lost 107.17 points, 0.85 percent, to 12,519.84. The Standard & Poor's 500 index shed 9.73 points, 0.73 percent, to 1,322.12. The Nasdaq composite index dropped 25.35 points, 0.88 percent, to 2,849.97. The 10-year benchmark treasury note rose 12/32 to yield 1.58 percent. The euro fell to $1.2433 from Wednesday's $1.2468. Against the yen, the dollar fell to 79.30 yen from Wednesday's 79.73 yen. In Tokyo, the Nikkei 225 index climbed 1.65 percent, 143.62, to 8,874.11.