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Markets Right Now: US stocks end moderately lower

October 13, 2016

NEW YORK (AP) — The latest on developments in global financial markets (all times local):

4:00 p.m.

Stocks are ending moderately lower on Wall Street following a surprisingly weak trade report from China.

Bank stocks fell the most Thursday. Wells Fargo lost 1 percent after the bank’s embattled CEO abruptly left the company late Wednesday.

Basic materials makers also fell. Those companies rely heavily on exports to China, the world’s second-largest economy.

Copper miner Freeport-McMoRan slumped 4 percent.

The Dow Jones industrial average fell 45 points, or 0.3 percent, to 18,098. It was down as much as 184 points earlier.

The Standard & Poor’s 500 index declined 6 points, or 0.3 percent, to 2,132. The Nasdaq composite dropped 25 points, or 0.5 percent, to 5,213.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.74 percent.

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11:45 a.m.

Stocks are moving broadly lower on Wall Street following a surprisingly weak trade report from China.

Bank stocks fell the most in midday trading Thursday. Wells Fargo slumped 2 percent after the bank’s embattled CEO abruptly left the company late Wednesday.

Companies that make basic materials also fell. Many of those companies rely heavily on exports to China, the world’s second-largest economy.

Copper miner Freeport-McMoRan slumped 7 percent, the biggest loss in the Standard & Poor’s 500 index.

The Dow Jones industrial average fell 127 points, or 0.7 percent, to 18,016.

The S&P 500 index declined 14 points, or 0.7 percent, to 2,124. The Nasdaq composite fell dropped 39 points, or 0.8 percent, to 5,199.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.74 percent.

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9:35 a.m.

Stocks are opening broadly lower on Wall Street following a surprisingly weak trade report from China.

Miners and other companies that make basic materials fell the most in early trading Thursday. Many of those companies rely heavily on exports to China, the world’s second-largest economy.

Copper miner Freeport-McMoRan slumped 6 percent, the biggest loss in the Standard & Poor’s 500 index.

Delta Air Lines slumped 3 percent after reporting revenue that fell short of forecasts.

The Dow Jones industrial average fell 121 points, or 0.7 percent, to 18,022.

The Standard & Poor’s 500 index declined 16 points, or 0.8 percent, to 2,122. The Nasdaq composite fell dropped 43 points, or 0.8 percent, to 5,195.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.74 percent.

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