Markets Right Now: US stocks erase much of an early plunge

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

11:45 a.m.

There was more whiplash for the stock market at the beginning of 2019 as an early plunge gave way to mixed trading by midday.

The Dow Jones Industrial Average dropped as much as 398 points early Wednesday after more shaky economic news from China. It recovered much of those losses and was down slightly at lunchtime.

Technology companies fell, but energy stocks rose as the price of oil turned higher.

Stocks are coming off their worst year in a decade as investors worry about slowing global economic growth and trade tensions between the U.S. and China.

The S&P 500 fell 7 points, or 0.3 percent, to 2,499.

The Dow lost 93 points, or 0.4 percent, to 23,220. The Nasdaq fell 10 points, or 0.2 percent, to 6,624.

Small-company stocks rose.

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9:35 a.m.

The stock market had a sour start to the New Year as big technology companies took more losses.

Apple and Amazon each fell about 2 percent in early trading Wednesday, as did Microsoft. Netflix tumbled 3.5 percent.

Markets were closed Tuesday for New Year’s Day.

Stocks are coming off their worst year in a decade as investors worry about slowing global economic growth and trade tensions between the U.S. and China.

The S&P 500 fell 35 points, or 1.4 percent, to 2,471. It fell 6.2 percent last year.

The Dow Jones Industrial Average gave up 362 points, or 1.6 percent, to 22,987. The Nasdaq fell 93 points, or 1.4 percent, to 6,536.

Bond prices rose. The yield on the 10-year Treasury fell to 2.65 percent.

Categories: National News