News

Markets Right Now: Stocks lower led by consumer companies

NEW YORK, N.Y. – The latest on developments in global financial markets (all times local):

4:30 p.m.

U.S. stocks took their biggest loss in almost a month on Tuesday as investors worried about the health of the U.S. economy and sold shares in retailers and car companies. Machinery companies also fell and the price of oil continued to decline.

Royal Caribbean fell more than 6 per cent after the cruise operator lowered its guidance.

Oil reversed early gains to close down 1.4 per cent at $39.51 a barrel in New York, the first time U.S. crude closed under $40 since April.

The Dow Jones industrial average closed down 91 points, or 0.5 per cent, to 18,314.

The Standard & Poor’s 500 index fell 14 points, or 0.6 per cent, to 2,157. The Nasdaq composite slid 46 points, or 0.9 per cent, to 5,138.

The yield on the 10-year Treasury note rose to 1.55 per cent.

12:00 p.m.

Stocks are trading lower on Wall Street as investors worry about the health of Europe’s banks and the U.S economy. Consumer companies and machinery makers are taking some of the biggest losses. Bond prices are falling and sending yields higher.

Royal Caribbean fell more than 6 per cent after the cruise operator lowered its guidance.

Oil started the day higher but by midday those gains reversed. It’s down 1.5 per cent at $39.45 a barrel in New York.

The Dow Jones industrial average is down 118 points, or 0.6 per cent, to 18,286.

The Standard & Poor’s 500 index is down 18 points, or 0.8 per cent, to 2,153. The Nasdaq composite fell 56 points, or 1.1 per cent, to 5,128.

The yield on the 10-year Treasury note rose to 1.54 per cent.

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9:50 a.m.

Stocks are opening mostly lower on Wall Street as worries over the financial health of Europe’s banks and skepticism over the Japanese government’s latest stimulus package weighed on global markets.

Royal Caribbean fell nearly 4 per cent early Tuesday after the cruise operator lowered its guidance.

Oil rebounded after a days-long slide took the price of crude to a nearly four-month low. It’s up 1.7 per cent at $40.75 a barrel in New York.

The Dow is down 36 points, or 0.2 per cent, to 18,367.

The Standard & Poor’s 500 index is down 6 points, or 0.3 per cent, to 2,165. The Nasdaq composite fell 21 points, or 0.4 per cent, to 5,163.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.56 per cent.