US stocks slip in early trading; Walgreen drops after abandoning plan to move tax base

NEW YORK, N.Y. – Worries about Russian troops massing near the Ukrainian border are pushing stocks slightly lower.

The Dow Jones industrial average slipped 12 points, or 0.1 per cent, to 16,418 early Wednesday.

The Standard & Poor’s 500 index fell three points, or 0.2 per cent, to 1,917. The Nasdaq composite fell 11 points, or 0.3 per cent, to 4,340.

Global markets have been falling following reports of a buildup of Russian troops on the Ukraine border.

Walgreen plunged 14 per cent after the drug store company said it would no longer pursue an overseas reorganization that would have reduced the amount of U.S. taxes it pays.

Time Warner fell 12 per cent after Rupert Murdoch’s News Corp. abandoned its bid for the company.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.45 per cent.