NEW YORK — The latest on developments in financial markets (all times local):
Stocks are moving lower on Wall Street as investors shifted to a more cautious stance following another record high for the S&P 500 a day earlier.
Banks led the decline Thursday as bond yields fell sharply. Bank of America gave up 1.7%.
Bond yields were falling following a surprisingly weak report on business activity in the Midwest.
Technology stocks fell, despite solid gains from Apple following its encouraging earnings report.
Facebook also rose after releasing surprisingly good third-quarter results.
The S&P 500 fell 18 points, or 0.6%, to 3,028.
The Dow Jones Industrial Average fell 208 points, or 0.8%, to 26,989. The Nasdaq fell 33 points, or 0.4%, to 8,270.
Bond prices rose. The yield on the 10-year Treasury fell to 1.71% from 1.79% a day earlier.
Stocks are opening mostly lower on Wall Street as banks and industrial companies decline, pulling the S&P 500 slightly below the record high it set a day earlier.
Technology and communications companies were bucking the trend and moving higher in early trading on Thursday.
Facebook jumped 4.6% after reporting a surge in earnings and steady growth in its user base.
Apple rose 1.6% after its earnings beat analysts’ estimates, despite reporting a drop in revenue from iPhone sales.
The S&P 500 fell 2 points, or 0.1%, to 3,044.
The Dow Jones Industrial Average fell 40 points, or 0.1%, to 27,145. The Nasdaq rose 13 points, or 0.2%, to 8,319.
Bond prices rose. The yield on the 10-year Treasury fell to 1.74%.
The Associated Press