Markets Right Now: Stocks sink, extending losses for year

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

11:45 a.m.

Stocks gave up an early gain and turned broadly lower, pushing the market deeper into the red for the year.

Banks, health care stocks and energy companies fell more than the rest of the market Monday.

Bank of America sank 3.7 per cent and Exxon Mobil lost 3 per cent.

Nutrisystem soared 29 per cent after Tivity Health agreed to buy the company.

The S&P 500 fell 27 points, or 1.1 per cent, to 2,604. The index is coming off its worst week since March.

The Dow Jones Industrial Average dropped 352 points, or 1.4 per cent, to 24,030. At one point the Dow was off as much as 507 points.

The Nasdaq composite fell 27 points, or 0.4 per cent, to 6,942.

Bond prices rose. The yield on the 10-year Treasury fell to 2.84 per cent.

___

9:35 a.m.

Stocks are wobbling between small gains and losses in the early going on Wall Street as trading settles down following huge losses last week.

Technology companies were among the early winners Monday. Facebook climbed 2.6 per cent and Microsoft rose 1.2 per cent.

Online review company Yelp rose 2.5 per cent after a shareholder said it wanted to shake up the company’s board.

Nutrisystem soared 31 per cent after Tivity Health agreed to buy the company for a big premium.

The S&P 500 index inched up 1 point to 2,635. The index is coming off its worst week since March.

The Dow Jones Industrial Average slipped 6 points to 24,375. The tech-heavy Nasdaq composite rose 22 points, or 0.3 per cent, to 6,991.