Markets Right Now: Stocks end lower on Wall Street

AP News
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Posted: Oct 03, 2016 4:11 PM

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

4:00 p.m.

Stocks ended lower on Wall Street, by declines in real estate companies and utilities.

Federal Realty Investment trust lost almost 4 percent Monday, one of the biggest declines in the Standard & Poor's 500 index.

Merrimack Pharmaceuticals, which develops cancer drugs, slumped 5 percent after announcing that it would cut almost a quarter of its workforce and would look for a new CEO.

Janus Capital surged 12 percent after announcing it is merging with another investment company.

The Dow Jones industrial average fell 54 points, or 0.3 percent, to 18,253.

The S&P 500 index lost 7 points, or 0.3 percent, to 2,161. The Nasdaq composite declined 11 points, or 0.4 percent, to 5,300.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.60 percent.

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11:45 a.m.

Stocks are falling in midday trading Monday, led by declines in utilities and real estate companies.

Health care stocks were also lower Monday.

Merrimack Pharmaceuticals, which develops cancer drugs, slumped 7 percent after announcing that it would cut almost a quarter of its workforce and would look for a new CEO.

Janus Capital surged 14 percent after announcing it is merging with another investment company.

The Dow Jones industrial average fell 66 points, or 0.4 percent, to 18,242.

The Standard & Poor's 500 index lost 9 points, or 0.4 percent, to 2,158. The Nasdaq composite declined 19 points, or 0.4 percent, to 5,292.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.60 percent.

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9:35 a.m.

Stocks are opening slightly lower on Wall Street, led by declines in health care and real estate companies.

Merrimack Pharmaceuticals, which develops cancer drugs, slumped 2 percent after announcing that it would cut almost a quarter of its workforce and would look for a new CEO.

The Dow Jones industrial average fell 85 points, or 0.5 percent, to 18,222.

The Standard & Poor's 500 index lost 8 points, or 0.4 percent, to 2,160. The Nasdaq composite declined 11 points, or 0.2 percent, to 5,299.

Bond prices didn't move much. The yield on the 10-year Treasury note held steady at 1.60 percent.