Stocks slip below record levels as investors assess corporate news; FMC drops on earnings

NEW YORK, N.Y. – U.S. stock indexes are closing slightly below the record levels they hit last week as investors assess a batch of corporate news.

Wisconsin Energy fell 4 per cent and General Electric fell 1 per cent after the companies said they had made acquisitions. Chemicals maker FMC fell 5 per cent after cutting its earnings forecast after farmers used less of its products due to an unusually harsh winter.

The Standard & Poor’s 500 index fell a fraction of a point, less than 0.1 per cent, to close at 1,962 Monday.

The Dow Jones industrial average dropped fell 10 points, also less than 0.1 per cent, to 16,937. The Nasdaq composite index was little changed at 4,368.

Bond prices fell slightly. The yield on the 10-year Treasury note rose to 2.62 per cent from 2.60 per cent.