Markets Right Now: Stocks sharply lower on Wall Street

Stocks are sharply lower in midday trading on Wall Street, extending the market's losses after its worst week in more than seven years.

Posted: Dec 24, 2018 11:24 AM
Updated: Dec 24, 2018 10:42 PM

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

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12 p.m.

Stocks are sharply lower in midday trading on Wall Street, extending the market's losses after its worst week in more than seven years.

Health care and technology stocks took some of the heaviest losses in the broad sell-off Monday. Johnson & Johnson fell 4 percent. Microsoft slid 2.7 percent.

Trading volume was light during a shortened trading session ahead of the Christmas holiday.

Bank stocks are among the worst off after news of the treasury secretary's call with CEOs of six major banks accentuated investors' concerns.

The S&P 500 is down 1.6 percent at 2,378 and the Dow Jones Industrial Average fell 1.7 percent to 22,062. The Nasdaq Composite is down 0.9 percent at 6,275.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.77 percent.

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9:35 a.m.

Stocks are opening lower on Wall Street Monday as key U.S. indexes remain on course for their worst December since the 1930s. Bank stocks are among the worst off after news of the treasury secretary's call with CEOs of six major banks accentuated investors' concerns.

The S&P 500 is down 0.5 percent at 2,404 and the Dow Jones Industrial Average is down 0.6 percent at 22,304. The Nasdaq Composite is down 0.3 percent at 6,309.

In holiday-thinned half-day trading in Europe, France's CAC 40 is down1.5 percent and Britain's FTSE 100 is down 0.5 percent.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.77 percent.

(Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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