Globally speaking, the G-20 summit is taking place in Pittsburgh were President Barack Obama is trying to convince European leaders to impose more stringent rules and regulations on bank pay limits.  Some believe this will be tough, as European countries are becoming increasingly impatient at the pace of action on climate change and financial regulation in the U.S. Congress and by the Obama administration.

Overall, the Dow Jones Industrial Average dropped 0.2%, the S&P 500 was down 0.3% and the Nasdaq gave up 0.1% in morning trading.

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Kevin Grewal contributed to this article.