Markets Right Now: Tech, energy lead US stocks lower

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

11:45 a.m.

U.S. stocks are sinking again, and technology companies are taking some of the biggest losses.

Microsoft lost 2.3 percent Monday and Apple gave up 1.6 percent.

Energy companies were falling in tandem with the price of crude oil. Marathon Petroleum gave up 2.8 percent.

Stocks in Europe dropped after Italy’s new deputy premier said the government won’t deviate from its plan to increase spending. Italy’s main stock index dropped 2.3 percent and the yields on its government bonds rose sharply.

The Standard & Poor’s 500 index fell 21 points, or 0.7 percent, to 2,865.

The Dow Jones Industrial Average lost 207 points, or 0.8 percent, to 26,234. The Nasdaq composite fell 110 points, or 1.4 percent, to 7,677.

U.S. bond trading was closed for Columbus Day.

___

9:35 a.m.

Losses for technology and energy stocks are leading U.S. indexes lower in early trading on Wall Street.

Apple fell 1 percent early Monday. Energy companies were falling in tandem with the price of crude oil. Marathon Petroleum lost 2 percent.

European markets were lower on concerns about Italy’s spending plans. Italy’s main stock index dropped 2.6 percent and the yields on its government bonds rose sharply.

The Standard & Poor’s 500 index fell 9 points, or 0.3 percent, to 2,875.

The Dow Jones Industrial Average lost 119 points, or 0.4 percent, to 26,324. The Nasdaq composite fell 50 points, or 0.6 percent, to 7,737.

Bond trading was closed for Columbus Day. Other financial markets were open.