Markets Right Now: Stocks sink, extending losses for year
NEW YORK (AP) — The latest on developments in financial markets (all times local):
Stocks gave up an early gain and turned broadly lower, pushing the market deeper into the red for the year.
Banks, health care stocks and energy companies fell more than the rest of the market Monday.
Bank of America sank 3.7 percent and Exxon Mobil lost 3 percent.
Nutrisystem soared 29 percent after Tivity Health agreed to buy the company.
The S&P 500 fell 27 points, or 1.1 percent, to 2,604. The index is coming off its worst week since March.
The Dow Jones Industrial Average dropped 352 points, or 1.4 percent, to 24,030. At one point the Dow was off as much as 507 points.
The Nasdaq composite fell 27 points, or 0.4 percent, to 6,942.
Bond prices rose. The yield on the 10-year Treasury fell to 2.84 percent.
Stocks are wobbling between small gains and losses in the early going on Wall Street as trading settles down following huge losses last week.
Technology companies were among the early winners Monday. Facebook climbed 2.6 percent and Microsoft rose 1.2 percent.
Online review company Yelp rose 2.5 percent after a shareholder said it wanted to shake up the company’s board.
Nutrisystem soared 31 percent after Tivity Health agreed to buy the company for a big premium.
The S&P 500 index inched up 1 point to 2,635. The index is coming off its worst week since March.
The Dow Jones Industrial Average slipped 6 points to 24,375. The tech-heavy Nasdaq composite rose 22 points, or 0.3 percent, to 6,991.