NEW YORK (AP) — U.S. stocks are opening slightly lower, a day after the market had its biggest gain of the year.

The Dow Jones industrial average slipped 38 points, or 0.2 percent, to 16,961 as of 9:35 a.m. Thursday.

The Standard and Poor’s 500 fell two points, or 0.1 percent, to 1,966. The Nasdaq composite fell five points, or 0.1 percent, to 4,464.

The Dow jumped 274 points on Wednesday after minutes from the Federal Reserve’s latest policy meeting indicated that the central bank was in no hurry to raise interest rates from their historically low levels.

Gap plunged 12 percent after the company said late Wednesday that its CEO Glenn Murphy will retire in February.

Bond prices were little changed. The yield on the 10-year Treasury note was flat at 2.32 percent.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.