NEW YORK (CNN/Money) - U.S. stocks opened broadly lower Wednesday after February retail sales showed unexpected weakness and chipmaker Intel cut its capital spending budget for the year, disappointing investors banking on a stronger recovery.

Retail sales rose a smaller-than-expected 0.3 percent in February, the government said. The numbers raised questions about the strength of consumer spending and countered a string of surprisingly strong economic data that have sent stocks higher for much of March.

Intel (INTC: down $1.31 to $31.68, Research, Estimates) said it still expects 2002 capital spending to fall to $5.5 billion from $7.3 billion in 2001, according to Reuters, which cited its annual report. J.P. Morgan cut earnings and sales estimates for Intel's second quarter and full year, saying its expects the chipmaker to keep cutting prices.

At 9:48 a.m. ET, the Nasdaq composite index lost 22.01 to 1,875.11 while the Dow Jones industrial average slipped 72.93 points to 10,559.42. The Standard & Poor's 500 index declined 6.69 to 1,158.89.

Overseas, Asia's stock markets fell while Europe's edged higher. The dollar rose against the euro and yen. Treasury securities gained.