Wall Street opens with losses, after two U.S. bank failures, feds attempt to secure banking system

U.S. stock markets opened Monday with early losses, after two banks failed over the weekend and the federal government stepped in to ensure depositors would have access to their money.

The Dow Jones Industrial Average was down at least 150 points, or 0.5%, in early trading, The S&P 500 lost 1.2%, and the Nasdaq Composite lost 1%, according to CNBC.

Silicon Valley Bank failed Friday and Signature Bank failed Sunday.