Markets Right Now: Banks lead US indexes lower; tech gains

Banks led a broad slide in U.S. stocks on Wall Street, giving the S&P 500 index its fourth straight loss.

Associated Press
Traders Michael Urkonis, left, William Lawrence, center, and Michael Smyth work on the floor of the New York Stock Exchange, Monday, Oct. 22, 2018. U.S. stocks veered broadly lower in early trading Monday as losses in health care companies and banks outweighed gains elsewhere. (AP Photo/Richard Drew)

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

4 p.m.

Banks led a broad slide in U.S. stocks on Wall Street, giving the S&P 500 index its fourth straight loss.

Bank of America and Citigroup each fell 3.3 percent Monday.

Energy stocks also fell as the price of crude oil spent most of the day lower. Halliburton lost 3 percent.

Hasbro led toymakers lower with a 3.1 percent drop after reporting weak earnings.

Technology and consumer-focused stocks rose. Amazon climbed 1.4 percent.

The S&P 500 index fell 11 points, or 0.4 percent, to 2,755.

The Dow Jones Industrial Average lost 126 points, or 0.5 percent, to 25,317. The Nasdaq composite added 19 points, or 0.3 percent, to 7,468.

Bond prices didn't move much. The yield on the 10-year Treasury held steady at 3.19 percent.

___

11:45 a.m.

Major U.S. stock indexes were mostly lower in midday trading as losses in banks and health care companies outweighed gains elsewhere.

Bank of America gave up 1.8 percent Monday while UnitedHealth, the country's biggest insurer, fell 1.4 percent.

Energy companies also fell along with the price of crude oil, and technology companies rebounded after an early tumble.

Smaller companies were doing better than the rest of the market.

Toy makers slumped after Hasbro's latest quarterly results disappointed investors. Hasbro fell 5.3 percent.

The S&P 500 index fell 6 points, or 0.2 percent, to 2,761.

The Dow Jones Industrial Average lost 117 points, or 0.5 percent, to 25,326. The Nasdaq composite added 39 points, or 0.5 percent, to 7,485.

___

9:35 a.m.

Stocks are opening slightly higher on Wall Street, led by gains in technology and internet companies.

Chipmaker Intel rose 1.7 percent in early trading Monday and video game maker Activision Blizzard rose 1.2 percent.

Energy companies fell along with oil prices. Halliburton gave up 2.7 percent.

Chinese markets rose sharply. The Hang Seng index jumped 2.3 percent.

The S&P 500 index rose 12 points, or 0.4 percent, to 2,781.

The Dow Jones Industrial Average climbed 106 points, or 0.4 percent, to 25,485. The Nasdaq composite added 55 points, or 0.7 percent, to 7,542.

Bond prices didn't move much. The yield on the 10-year Treasury note held steady at 3.19 percent.