Markets Right Now: Stocks move lower on Wall Street

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

11:45 a.m.

U.S. stock indexes are down in midday trading as losses in retailers and internet and technology companies outweigh gains elsewhere in the market.

Chipmaker Nvidia plunged 18 per cent Friday after saying it had a large number of unsold chips because of a big drop in mining of cryptocurrencies.

Health care companies and utilities rose. UnitedHealth Group added 1.6 per cent.

Troubled California power provider PG&E surged 33 per cent after the president of the utility’s state regulator said it was essential for a power company to have the financial strength to operate.

The S&P 500 index fell 7 points, or 0.3 per cent, to 2,722.

The Dow Jones Industrial Average lost 11 points, less than 0.1 per cent, to 25,279. The Nasdaq composite lost 68 points, or 0.9 per cent, to 7,191.

___

9:35 a.m.

Stocks are opening mostly lower on Wall Street, erasing some of the market’s gains from a day earlier.

Technology stocks fell more than the rest of the market in early trading Friday.

Chipmaker Nvidia plunged 19 per cent after saying it had a large number of unsold chips because of a big drop in mining of cryptocurrencies.

Troubled California power provider PG&E surged 37 per cent after the president of the utility’s state regulator said it was essential for a power company to have the financial strength to operate.

The S&P 500 index fell 13 points, or 0.4 per cent, to 2,716.

The Dow Jones Industrial Average lost 101 points, or 0.4 per cent, to 25,189. The Nasdaq composite lost 77 points, or 1.1 per cent, to 7,181.