Markets Right Now: Technology stocks lead US market lower

Timothy Nick, Michael O'Mara Photo: AP
Timothy Nick, Michael O'Mara

November 12, 2018 03:21 PM

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

4 p.m.

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Stock trading turned jittery again after two weeks of gains, pulling the Dow Jones Industrial Average down 600 points.

Technology stocks took some of the biggest losses Monday. Apple slumped 5 percent. Amazon dropped 4.4 percent and Goldman Sachs gave up 7.5 percent.

British American Tobacco, which makes Newport cigarettes, plunged 8.8 percent on reports that regulators were considering a ban on menthol cigarettes.

The market was coming off a two-week winning streak.

The S&P 500 index fell 54 points, or 2 percent to 2,726.

The Dow Jones Industrial Average fell 602 points, or 2.3 percent, to 25,387. The Nasdaq composite lost 206 points, or 2.8 percent, to 7,200.

Bond trading was closed for Veterans Day.

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1:18 p.m.

A steep drop in technology companies sent U.S. stocks sharply lower, knocking 500 points off the Dow Jones Industrial Average.

Apple and Amazon each lost 4.5 percent Monday.

Crude oil prices were headed higher, snapping a 10-day skid, after Saudi Arabia said it planned to cut its output.

Athenahealth jumped 9.6 percent after the struggling medical billing software maker received a buyout offer.

The market was coming off a two-week winning streak.

The S&P 500 index fell 46 points, or 1.7 percent to 2,734.

The Dow Jones Industrial Average fell 495 points, or 1.9 percent, to 25,496. It was down as much as 509 earlier.

The Nasdaq composite lost 190 points, or 2.6 percent, to 7,214.

Bond trading was closed for Veterans Day.

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11:45 a.m.

A steep drop in technology companies sent U.S. stocks sharply lower, knocking off more than 400 points from the Dow Jones Industrial Average.

Banks and consumer-focused companies and media and communications stocks also took heavy losses Monday.

Apple sank 4.8 percent and Amazon lost 4.5 percent. Facebook gave up 2.5 percent and JPMorgan Chase fell 1.8 percent.

Crude oil prices were headed higher, snapping a 10-day skid, after Saudi Arabia said it planned to cut its output.

Athenahealth jumped 9.6 percent after the struggling medical billing software maker received a buyout offer.

The S&P 500 index fell 39 points, or 1.4 percent to 2,741.

The Dow Jones Industrial Average fell 413 points, or 1.6 percent, to 25,577. The Nasdaq composite lost 175 points, or 2.4 percent, to 7,231.

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9:35 a.m.

Stocks are opening moderately lower on Wall Street, led by declines in technology and internet companies.

Apple fell 3.7 percent in early trading Monday and Google's parent company Alphabet gave up 1.5 percent.

Athenahealth jumped 9.6 percent after the struggling medical billing software maker received a $5.7 billion cash buyout offer.

The S&P 500 index fell 16 points, or 0.6 percent to 2,764.

The Dow Jones Industrial Average fell 113 points, or 0.5 percent, to 25,870. The Nasdaq composite lost 87 points, or 1.2 percent, to 7,319.

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(Copyright 2018 by The Associated Press. All Rights Reserved.)

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