Markets Right Now: Stocks turn broadly lower on Wall Street - InfoNews

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Markets Right Now: Stocks turn broadly lower on Wall Street

FILE- In this March 5, 2019, file photo trader Peter Tuchman works on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Wednesday, March 27. (AP Photo/Richard Drew, File)
March 27, 2019 - 8:58 AM

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

11:45 a.m.

Stocks turned broadly lower in midday trading on Wall Street, erasing the market's gains from a day earlier.

Technology and health care companies fell the most Wednesday. Microsoft and UnitedHealth Group each lost 1.9 per cent.

Centene sank 9.1 per cent after agreeing buy WellCare Health Plans for more than $15 billion. WellCare jumped 8 per cent.

Banks fell as bond yields continued to drop. Bank of New York Mellon gave up 1.8 per cent.

The S&P 500 index fell 30 points, or 1.1 per cent, to 2,787.

The Dow Jones Industrial Average fell 223 points, or 0.9 per cent, to 25,438.

The Nasdaq gave back 106 points, or 1.4 per cent, to 7,585.

Bond prices rose. The yield on the benchmark 10-year Treasury fell to 2.36 per cent.

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9:35 a.m.

Stocks are opening modestly higher on Wall Street, led by gains in industrial and technology companies.

Railroad operator Union Pacific rose 1 per cent Wednesday and HP rose 0.9 per cent.

WellCare Health Plans jumped 10.6 per cent after the company agreed to be acquired by rival Centene for more than $15 billion.

The Dow Jones Industrial Average rose 87 points, or 0.3 per cent, to 25,742. The S&P 500 rose 3 points, or 0.1 per cent, to 2,821.

The Nasdaq edged up 7 points, or 0.1 per cent, to 7,698.

Bond prices rose, sending yields lower. The yield on the benchmark 10-year Treasury note fell to 2.38 per cent.

News from © The Associated Press, 2019
The Associated Press

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