Markets Right Now: Stocks Sink Again, Go Negative for Year
NEW YORK (AP) — The latest on developments in financial markets (all times local):
11:45 a.m.
Stocks are falling sharply on Wall Street again, erasing most of their big gains from the day before.
The Dow Jones Industrial Average sank more than 300 points Friday, or 1.4 percent, putting it in the red for the year again.
The S&P 500, the benchmark for many index funds, is now 9.4 percent below the peak it reached in September.
Amazon and Alphabet, longtime market favorites, plunged after reporting weak revenue.
Other major companies also fell sharply.
Bond prices rose as investors sought safety, sending yields lower.
The S&P 500 index fell 43 points, or 1.6 percent, to 2,661.
The Dow was down 349 points to 24,630. It was down as much as 539 earlier.
The tech-heavy Nasdaq composite dropped 170 points, or 2.3 percent, to 7,151.
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11 a.m.
Stocks are falling sharply on Wall Street again, erasing big gains from the day before.
The Dow Jones Industrial Average sank 500 points Friday, or 2 percent, putting it in the red for the year again.
The S&P 500, the benchmark for many index funds, is now 10 percent below the peak it reached in September.
Amazon and Alphabet, longtime market favorites, plunged after reporting weak revenue.
Other major companies also fell sharply. Bond prices rose as investors sought safety, sending yields lower.
The S&P 500 index fell 70 points, or 2.6 percent, to 2,634.
The Dow fell 474 points, or 1.9 percent, to 24,494. It was down as much as 539 minutes earlier.
The tech-heavy Nasdaq composite dropped 246 points, or 3.4 percent, to 7,073.
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9:35 a.m.
Stocks are opening broadly lower on Wall Street, a day after a massive surge, as a number of big companies reported disappointing results.
Technology and consumer-focused companied led the declines early Friday.
Amazon slumped 8.6 percent and Google's parent company, Alphabet, gave back 3.8 percent. Both reported revenue that fell short of analysts' estimates.
Colgate-Palmolive sank 5.3 percent after its results fell short.
Chipmaker Intel was a bright spot, gaining 2 percent after reporting a strong quarter.
The S&P 500 index fell 42 points, or 1.5 percent, to 2,664.
The Dow Jones Industrial Average fell 240 points, or 0.9 percent, to 24,757. The tech-heavy Nasdaq composite dropped 176 points, or 2.4 percent, to 7,145.
Bond prices rose. The yield on the 10-year Treasury note fell to 3.09 percent.
Source: AP
