Markets Right Now: Tech leads stocks lower; bond yields rise

FILE- In this April 19, 2017, file photo, specialist Anthony Rinaldi is reflected in a screen at his post on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Tuesday, May 15, 2018. (AP Photo/Richard Drew, File)

NEW YORK — The latest on developments in financial markets (all times local):

4 p.m.

Losses in technology and health care companies helped pull U.S. stocks lower, breaking an eight-day winning streak for the Dow Jones industrial average.

The broad sell-off Tuesday followed a spike in bond yields, which sent the 10-year Treasury yield to its highest in almost seven years.

That paves the way for higher borrowing costs on mortgages. Homebuilders fell sharply as a result. D.R. Horton plunged 6.7 percent.

Banks, which stand to prosper because of higher interest rates on loans, bucked the downward trend. KeyCorp rose 1.5 percent.

The S&P 500 fell 18 points, or 0.7 percent, to 2,711.

The Dow lost 193 points, or 0.8 percent, to 24,706. The Nasdaq fell 59 points, or 0.8 percent, to 7,351.

Small-company stocks held up better than the rest of the market.

___

11:45 a.m.

Stocks are moving mostly lower in midday trading on Wall Street, led by technology and health care companies.

Banks bucked the downward trend Tuesday and rose along with bond yields. Small-company stocks also rose.

Apple fell 1 percent, Amazon fell 1.9 percent and Wells Fargo climbed 0.9 percent.

The declines Tuesday put the Dow Jones industrial average on track to end an eight-day winning streak.

Bond prices fell, sending yields higher, after the government reported a solid increase in retail sales last month. The yield on the 10-year Treasury rose to its highest since July 2011.

The S&P 500 index fell 18 points, or 0.7 percent, to 2,712.

The Dow lost 183 points, or 0.7 percent, to 24,715. The Nasdaq composite fell 60 points, or 0.8 percent, to 7,349.

___

9:35 a.m.

Stocks are opening moderately lower across the board on Wall Street, led by declines in technology and consumer-focused companies.

The declines Tuesday put the Dow Jones industrial average on track to end an eight-day winning streak.

Bond prices fell, sending yields higher, after the government reported a solid increase in U.S. retail sales last month.

The yield on the benchmark 10-year Treasury note rose to 3.05 percent, its highest level since July 2011. That yield is used to set interest rates on mortgages and other kinds of loans.

The S&P 500 index fell 18 points, or 0.7 percent, to 2,711.

The Dow Jones industrial average lost 162 points, or 0.6 percent, to 24,739. The Nasdaq composite fell 75 points, or 1 percent, to 7,335.

You may also interested in

Zika researchers seeking volunteers willing to be infected

Aug 19, 2016

Researchers looking for volunteers willing to be infected with the Zika virus as part of effort to develop vaccines

Valeant, attempting to normalize operations, names new CFO

Aug 22, 2016

Valeant Pharmaceuticals is replacing Robert Rosiello as chief financial officer as the embattled pharmaceutical company attempts to normalize operations amid a host of ongoing investigations and class action suits

Several tornadoes likely hit Indiana, Ohio; no bad injuries

Aug 25, 2016

Authorities say a wave of severe storms likely produced several tornadoes in Indiana and Ohio, damaging homes and businesses but causing no serious injuries

People also read these

Zika researchers seeking volunteers willing to be infected

Aug 19, 2016

Researchers looking for volunteers willing to be infected with the Zika virus as part of effort to develop vaccines

Officials: Zika won't hurt South Florida tourism in long run

Aug 20, 2016

The discovery of Zika-carrying mosquitoes in South Florida certainly isn't ideal for tourism, but local officials and business leaders are confident the long-term impact on the tourism industry will be minor

McDonald's recalls millions of Happy Meals fitness bands

Aug 23, 2016

McDonald's recalling millions of fitness bands included in Happy Meals because they might cause skin irritation

Emporium Post fulfils the need to know all things about consumers and how businesses can take this opportunity to reach their own customers.

Contact us: sales@emporiumpost.com

Join our mailing list now!