Markets Right Now: Tech stocks lead a slump on Wall Street

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

11:45 a.m.

Technology stocks are leading a slump on Wall Street led by big drops in Apple and Facebook.

Apple lost 3.9 percent in midday trading Monday and Facebook gave up 5.2 percent.

Nissan’s U.S.-listed shares slumped 5.1 percent after the carmaker’s chairman, Carlos Ghosn, was arrested after allegedly under-reporting his income.

High-dividend stocks like utilities held up better than the rest of the market.

The S&P 500 index fell 43 points, or 1.6 percent, to 2,693.

The Dow Jones Industrial Average lost 392 points, or 1.5 percent, to 25,017. The Nasdaq composite lost 187 points, or 2.6 percent, to 7,060.

Bond price didn’t move much. The yield on the 10-year Treasury note held steady at 3.07 percent.

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9:35 a.m.

Stocks are opening slightly lower on Wall Street led by declines in technology and industrial companies.

Apple sank 2.6 percent in early trading Monday and Amazon lost 1.5 percent. Boeing gave up 1 percent.

Nissan’s U.S.-listed shares slumped 8.5 percent after the company’s chairman Carlos Ghosn was arrested after allegedly under-reporting his income.

The S&P 500 index fell 6 points, or 0.2 percent, to 2,729.

The Dow Jones Industrial Average lost 53 points, or 0.2 percent, to 25,365. The Nasdaq composite lost 38 points, or 0.5 percent, to 7,209.

The price of crude oil fell 1.7 percent.



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