MARKETS RIGHT NOW | Tech leads early decline on Wall Street
NEW YORK (AP) — Stocks are opening broadly lower on Wall Street as technology companies turn lower.
U.S.-listed stocks of Chinese internet companies were falling in early trading Wednesday following a rare profit drop by China’s Tencent, a gaming and messaging company.
JD.com sank 4.7 percent and Baidu dropped 1.9 percent.
U.S. tech companies also fell. Western Digital gave up 3.8 percent.
The S&P 500 index lost 14 points, or 0.5 percent, to 2,825.
The Dow Jones Industrial Average dropped 128 points, or 0.5 percent, to 25,168. The Nasdaq fell 42 points, or 0.5 percent, to 7,829.
Bond prices rose. The yield on the 10-year Treasury fell to 2.87 percent.