Markets Right Now: Energy, materials lead US stocks lower

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

11:45 a.m.

Stocks are falling on Wall Street after the government reported that economic growth slowed down at the end of last year.

Energy and materials companies had some of the biggest losses Thursday.

Marathon Petroleum gave up 2.1 per cent and chemical maker DowDuPont lost 2.4 per cent.

Several technology companies were also doing poorly. HP plunged 16 per cent after reporting weak printer and computer sales.

South Korean stocks fell after talks between U.S. President Donald Trump and North Korean leader Kim Jong Un ended abruptly without an agreement.

The S&P 500 slipped 1 point to 2,791. The index is still on track for a 3.2 per cent gain in February.

The Dow Jones Industrial Average lost 17 points, or 0.1 per cent, to 25,967. The Nasdaq was little changed at 7,552.

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9:35 a.m.

Stocks are opening slightly lower on Wall Street after the government reported that growth in the U.S. economy slowed significantly in the last three months of 2018.

Technology companies and retailers fell more than the rest of the market early Thursday.

HP plunged 16 per cent after reporting weak printer and computer sales.

Booking Holdings, the parent company of Priceline, sank 9 per cent and Victoria’s Secret parent company L Brands dropped 6.6 per cent.

South Korean stocks fell after talks between U.S. President Donald Trump and North Korean leader Kim Jong Un ended abruptly without an agreement.

The S&P 500 index fell 3 points, or 0.1 per cent, to 2,788.

The Dow Jones Industrial Average lost 13 points, or 0.1 per cent, to 25,975. The Nasdaq fell 12 points, or 0.2 per cent, to 7,541.