Stocks opened slightly lower on Wednesday as General Motors inched closer to bankruptcy and investors had their sights on a key report on the housing market.

Biotechnology shares weigh down the Nasdaq.

The Dow Jones industrial average <.DJI> dropped 11.23 points, or 0.13 percent, to 8,462.26. The Standard & Poor's 500 Index <.SPX> shed 1.36 points, or 0.15 percent, to 908.97. The Nasdaq Composite Index <.IXIC> fell 9.35 points, or 0.53 percent, to 1,741.08.

(Reporting by Rodrigo Campos; Editing by Padraic Cassidy)

General motors