Markets Right Now: Tech stocks lead major US indexes lower
NEW YORK (AP) — The latest on developments in financial markets (all times local):
Stocks are falling on Wall Street led by declines in technology and communications companies.
Nvidia fell 2.7% in midday trading Monday and Netflix lost 2.2%.
Steelmakers rose after President Donald Trump said the U.S. would impose tariffs on steel and aluminum imports from Argentina and Brazil. AK Steel jumped 7%.
Energy companies held up the best as oil prices jumped. Marathon Oil rose 2.4%.
The S&P 500 fell 21 points, or 0.7% to 3,119.
The Dow Jones Industrial Average lost 198 points, or 0.7%, to 27,853. The Nasdaq fell 87 points, or 1%, to 8,577.
Bond prices fell. The yield on the 10-year Treasury rose to 1.83%.
Stocks are off to a weak start on Wall Street as traders return from a holiday-shortened week.
Gains in health care and energy stocks early Monday were being offset by losses in technology and other sectors.
Bristol-Myers Squibb climbed 1.9%, while Adobe lost 1.5%.
Steelmakers rose after President Donald Trump said the U.S. would impose tariffs on steel and aluminum imports from Argentina and Brazil.
The S&P 500 slipped 7 points, or 0.2% to 3,143.
The Dow Jones Industrial Average fell 26 points, or 0.1%, to 28,022. The Nasdaq lost 36 points, or 0.4%, to 8,629.
Bond prices fell. The yield on the 10-year Treasury rose to 1.84%.