Markets Right Now: Tech stocks lead declines on Wall Street

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

11:45 a.m.

Technology stocks led a broad decline in midday trading on Wall Street as traders turned pessimistic again about the prospects of the U.S. and China resolving their trade dispute.

Chipmakers, which do a lot of business in China, fell more than the rest of the market Tuesday. Nvidia fell 1.7% and Qualcomm lost 3%

The British pound slumped as investors fret over the latest confrontation over Britain’s departure from the European Union. Lawmakers are challenging Prime Minister Boris Johnson’s insistence that the U.K. leave even without a deal.

The S&P 500 fell 22 points, or 0.8%, to 2,904.

The Dow Jones Industrial Average fell 334, or 1.3%, to 26,065. The Nasdaq lost 74, or 0.9%, to 7,888.

Bond prices rose. The yield on the 10 year Treasury fell to 1.44%.

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9:35 a.m.

Stocks are opening lower on Wall Street as traders turned pessimistic again about the prospects of the U.S. and China resolving their trade dispute.

Chipmakers fell more than the rest of the market in early trading Tuesday.

Those companies do a lot of business in China and stand to lose greatly if the conflict drags on. Nvidia fell 1.7% and Qualcomm lost 1.4%

The British pound fell as Prime Minister Boris Johnson’s office said he would call an early election if his opponents pass legislation that would block his plans to leave the European Union by an Oct. 31 deadline.

The S&P 500 fell 18 points, or 0.6%, to 2,908.

The Dow Jones Industrial Average fell 279, or 1.1%, to 26,125. The Nasdaq lost 33, or 0.4%, to 7,928.