Markets Right Now: US stocks close lower

AP News
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Posted: Aug 24, 2016 4:12 PM

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

4:00 p.m.

Stocks are closing lower, led by drops in health care companies, more than erasing a modest gain from the day before.

Drugmaker Mylan fell another 5 percent Wednesday as scrutiny builds over the company's huge price hikes of EpiPens, which are used to treat severe allergic reactions. Other health care stocks also fell.

Mining and basic materials companies also fell. Newmont Mining and Freeport-McMoRan each dropped 8 percent.

Clothing maker Express plunged 26 percent after slashing its outlook.

The Dow Jones industrial average fell 65 points, or 0.4 percent, to 18,481.

The Standard & Poor's 500 index lost 11 points, or 0.5 percent, to 2,175. The Nasdaq composite slipped 42 points, or 0.8 percent, to 5,217.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.56 percent.

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11:45 a.m.

Stocks are moving slightly lower in midday trading on Wall Street as the market gives back a modest gain from the day before.

Mining and energy stocks were among the decliners Wednesday as prices for metals and crude oil fall.

Newmont Mining dropped 4 percent and Range Resources fell 1 percent.

Clothing maker Express plunged 25 percent after slashing its outlook.

The Dow Jones industrial average fell 44 points, or 0.2 percent, to 18,502.

The Standard & Poor's 500 index lost 5 points, or 0.2 percent, to 2,181. The Nasdaq composite slipped 9 points, or 0.2 percent, to 5,250.

Bond prices didn't move much. The yield on the 10-year Treasury note held steady at 1.55 percent.

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9:35 a.m.

Stocks are opening slightly lower on Wall Street as the market gives back a modest gain from the day before.

Mining and energy stocks were among the decliners in early trading Wednesday as prices for metals and crude oil fall.

Newmont Mining dropped 3 percent and Range Resources fell 1 percent.

Clothing maker Express plunged 24 percent after slashing its outlook.

The Dow Jones industrial average fell 17 points, or 0.1 percent, to 18,528.

The Standard & Poor's 500 index lost a point to 2,185. The Nasdaq composite was little changed at 5,260.

Bond prices rose slightly. The yield on the 10-year Treasury note fell to 1.54 percent.