NEW YORK (AP) - The latest on developments in financial markets (All times local):
4:00 p.m.
Stocks are ending broadly lower on Wall Street, and banks and materials companies are taking some of the biggest losses.
Banks on Monday gave back some of the ground they gained last week, and mining companies fell after China trimmed its economic growth forecast.
Citigroup lost 1.2 percent and Freeport-McMoRan slumped 2.3 percent.
Tyson Foods fell 2.5 percent after avian flu was discovered at a supplier’s farm.
The Standard & Poor’s 500 index fell 7 points, or 0.3 percent, to 2,375.
The Dow Jones industrial average lost 51 points, or 0.2 percent, to 20,954. The Nasdaq composite declined 21 points, or 0.4 percent, to 5,849.
The Russell 2000, which tracks smaller companies, lost 9 points, or 0.7 percent, to 1,384.
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11:45 a.m.
Stocks are broadly lower on Wall Street, and banks and materials companies are taking some of the biggest losses.
Banks are giving back some of the ground they gained last week, and mining companies fell after China trimmed its economic growth forecast.
Freeport-McMoRan slumped 3.2 percent as the price of copper fell.
Tyson Foods fell 3.5 percent after avian flu was discovered at a supplier’s farm.
The Standard & Poor’s 500 index fell 12 points, or 0.5 percent, to 2,370.
The Dow Jones industrial average lost 79 points, or 0.4 percent, to 20,926. The Nasdaq composite declined 37 points, or 0.6 percent, to 5,833.
Small-company stocks fell more than the rest of the market. The Russell 2000 lost 14 points, or 1.1 percent, to 1,379.
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9:35 a.m.
Stocks are opening lower on Wall Street, led by declines in materials companies and banks.
U.S.-listed shares of Deutsche Bank fell 2.3 percent early Monday after the big German bank said it plans to raise at least $8.5 billion in capital and sell a stake in its asset management businesses.
Mining companies were taking losses after China trimmed its economic growth forecast. Freeport-McMoRan slumped 4.8 percent as the price of copper fell.
The Standard & Poor’s 500 index fell 11 points, or 0.5 percent, to 2,371.
The Dow Jones industrial average lost 70 points, or 0.2 percent, to 20,934. The Nasdaq composite declined 29 points, or 0.5 percent, to 5,841.
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