Markets Right Now: Technology stocks lead US indexes lower

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

4 p.m.

Stocks are ending broadly lower on Wall Street, led by declines in technology companies.

Apple slid 2 per cent Monday as investors continued to worry that its new iPhone hasn’t been that big of a hit with customers.

Industrials companies also posted big losses. Energy stocks declined as crude oil prices headed lower.

Dr. Pepper Snapple soared 22 per cent after agreeing to be acquired by Keurig.

The Standard & Poor’s 500 index fell 19 points, or 0.7 per cent, to 2,853.

The Dow Jones industrial average slid 177 points, or 0.7 per cent, to 26,439. The Nasdaq composite lost 39 points, or 0.5 per cent, to 7,466.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.69 per cent.

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11:45 a.m.

Stocks are broadly lower in midday trading on Wall Street, led by declines in technology companies.

Apple slid 1.4 per cent Monday as investors continued to worry that its new iPhone hasn’t been that big of a hit with customers.

Industrials companies also posted big losses. Caterpillar gave up 2 per cent.

Energy stocks declined as crude oil prices headed lower. Chesapeake Energy fell 2.9 per cent.

Dr. Pepper Snapple soared 24 per cent after agreeing to be acquired by Keurig.

The Standard & Poor’s 500 index fell 8 points, or 0.3 per cent, to 2,864.

The Dow Jones industrial average slid 64 points, or 0.2 per cent, to 26,551. The Nasdaq composite lost 18 points, or 0.3 per cent, to 7,486.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.72 per cent.

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9:35 a.m.

The major U.S. stock indexes are down slightly in early trading Monday, as losses in technology companies outweighed gains elsewhere.

Dr. Pepper Snapple Group jumped 29 per cent in the first few minutes of trading after it agreed to be acquired by Keurig in a deal that would create a beverage giant with about $11 billion in annual sales.

The Commerce Department said that consumer spending rose 0.4 per cent in December, a solid pace but slower than the big increase in November.

The Standard & Poor’s 500 index fell 7 points, or 0.3 per cent, to 2,865.

The Dow Jones industrial average slid 34 points, or 0.1 per cent, to 26,582. The Nasdaq composite lost 27 points, or 0.4 per cent, to 7,478.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.69 per cent.