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Markets Right Now: Stocks retreat from latest record highs

July 25, 2019

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

4 p.m.

Stocks retreated from record highs set a day earlier as large companies delivered weak earnings reports and disappointing forecasts.

Technology stocks sustained the steepest declines throughout the day Thursday.

Digital payments company PayPal slid 5.1% after cutting its revenue forecast.

Facebook dropped 1.9% following the social media company’s disclosure that it is being investigated over allegedly anticompetitive behavior.

Tesla slumped 13.6% after reporting a loss in its latest quarter that was much larger than analysts were expecting.

The S&P 500 index fell 15 points, or 0.5% to 3,003.

The Dow Jones Industrial Average lost 128 points, or 0.5%, to 27,141. The Nasdaq fell 82 points, or 1%, to 8,238.

Bond prices fell. The yield on the 10-year Treasury rose to 2.07%.

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11:45 a.m.

Stocks are moving broadly lower on Wall Street after weak earnings from several large companies pulled down the technology sector.

Digital payments company PayPal slid 3.7% Thursday after cutting its revenue forecast.

A 2.7% drop from Facebook pushed communications stocks lower following the social media company’s latest disclosure that it is being investigated over allegedly anticompetitive behavior.

Tesla slumped 14.2% after reporting a loss in its latest quarter that was much larger than analysts were expecting.

The S&P 500 index fell 13 points, or 0.5% to 3,005.

The Dow Jones Industrial Average lost 124 points, or 0.5%, to 27,145. The Nasdaq fell 59 points, or 0.7%, to 8,261.

Bond prices fell. The yield on the 10-year Treasury rose to 2.08%.

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9:35 a.m.

Stocks are opening slightly lower on Wall Street led by declines in technology and health care stocks.

Several companies were also moving lower early Thursday after posting disappointing results.

Tesla slumped 14.8% after reporting a loss in its latest quarter that was much larger than analysts were expecting.

Ford fell 6.8% after its own results came in below forecasts.

The S&P 500 index fell 8 points, or 0.3% to 3,010.

The Dow Jones Industrial Average lost 75 points, or 0.3%, to 27,197. The Nasdaq fell 48 points, or 0.6%, to 8,273.

Bond prices fell. The yield on the 10-year Treasury rose to 2.07%.

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