Thomson Reuters
Traders work on the floor of the New York Stock Exchange
Near the open, at 9:47 a.m. ET, the Dow was off 31 points, the S&P 500 was down 3 points, and the Nasdaq was down 28 points - all by less than 1%.
Stepping back, it's the biggest two-day loss for stocks in at least six weeks. The indexes on Friday recorded the longest streak of weekly gains this year after a sixth straight week in the green.
Apple shares were lower by about 2.5% in early trading, weighing down the Dow. Credit Suisse analysts wrote in a client note the company had cut orders for hardware components by up to 10% because of weak iPhone 6S demand.
Valeant shares fell less than 1% near the open, as the company held a second conference call amid the controversy about its relationship with specialty pharma Philidor. Valeant said Philidor will shut down next January; we have all the other details from that call here.
In economic data, import prices fell 0.5% in October, more than expected, as the strong dollar continued to dampen prices and inflation.
The latest survey data from the NFIB showed that 21% of firms reported an increase in compensation last month, down from September, but maintaining the upward trend of higher-wage reports.
And over in China, inflation fell to a five-month low in October. This is raising speculation that policymakers may introduce more stimulus to boost economic growth and lower deflationary pressure, according to Dave Lutz at JonesTrading.