Markets Right Now: Slumping tech stocks weigh on US indexes

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

4 p.m.

A slump in big technology stocks helped pull U.S. indexes lower on Wall Street, extending the market’s modest losses from a day earlier.

Apple lost 4.1 per cent Friday, its third loss in a row.

Health care stocks and consumer goods companies also declined.

Mattel dropped 3.6 per cent after the struggling toy maker said its CEO was leaving.

General Electric jumped 3.9 per cent after reporting results that were better than analysts were expecting.

The S&P 500 index fell 22 points, or 0.9 per cent, to 2,670.

The Dow Jones industrial average lost 201 points, or 0.8 per cent, to 24,462. The Nasdaq composite fell 91 points, or 1.3 per cent, to 7,146.

Bond prices fell. The yield on the 10-year Treasury rose to 2.96 per cent.

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11:45 a.m.

U.S. stocks veered broadly lower in midday trading, extending the market’s modest losses from a day earlier.

Technology stocks accounted for a big slice of the slide Friday. Apple lost 3.4 per cent.

Health care stocks and consumer goods companies also declined. Energy companies fell along with the price of crude oil.

Mattel plunged 6.3 per cent after the struggling toy maker said its CEO was leaving.

General Electric jumped 3.9 per cent after reporting results that were better than analysts were expecting.

The S&P 500 index fell 17 points, or 0.7 per cent, to 2,675.

The Dow Jones industrial average lost 165 points, or 0.7 per cent, to 24,495. The Nasdaq composite fell 76 points, or 1 per cent, to 7,161.

Bond prices fell. The yield on the 10-year Treasury rose to 2.93 per cent.

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9:35 a.m.

Stocks are off to a mostly lower start on Wall Street as losses for technology and energy companies offset gains for industrial companies and banks.

Apple sank 2.4 per cent in early trading Friday, and energy companies fell along with the price of crude oil.

Mattel plunged 8.4 per cent after the struggling toy maker replaced its CEO.

General Electric jumped 6.4 per cent after reporting results that were better than analysts were expecting.

The S&P 500 index fell 4 points, or 0.2 per cent, to 2,689.

The Dow Jones industrial average lost 30 points, or 0.1 per cent, to 24,634. The Nasdaq composite fell 34 points, or 0.5 per cent, to 7,203.

Bond prices fell. The yield on the 10-year Treasury rose to 2.93 per cent.