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Markets Right Now: Trade tensions send stocks lower
NEW YORK – The latest on developments in financial markets (all times local):
9:35 a.m.
Stocks are opening lower on Wall Street as tensions rose between Washington and Beijing just ahead of the latest round of trade talks.
The broad losses early Tuesday came after the U.S. blacklisted Chinese tech companies that develop facial recognition and other technology. The U.S. says it’s being used to repress China’s Muslim minority groups.
Banks and health care companies fell the most. Bank of America gave up 2.4% and Thermo Fisher Scientific lost 3.5%.
The S&P 500 fell 24 points, or 0.8%, to 2,914.
The Dow Jones Industrial Average lost 206 points, or 0.7%, to 26,275. The Nasdaq lost 60 points, or 0.8%, to 7,894.
Bond prices rose as investors sought out low-risk investments. The yield on the 10-year Treasury fell to 1.51%.
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