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Markets Right Now: Tech stocks lead a slump on Wall Street

November 19, 2018

Trader Anthony Rinaldi follows stock activity, Monday, Nov. 19, 2018, at the New York Stock Exchange. Big technology and internet companies came under heavy selling pressure again on Monday, leading to broad losses across the stock market. The Dow Jones Industrial Average briefly fell 500 points. (AP Photo/Mark Lennihan)

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

4 p.m.

Stocks are closing sharply lower on Wall Street, pulled down by more steep losses in big technology companies.

Apple, Microsoft and Facebook all came under heavy selling pressure Monday.

The losses came after the U.S. and China clashed at a Pacific Rim summit over the weekend, dashing hopes raised last week that the two economic giants were making progress on resolving their damaging trade dispute.

Industrial companies also took a beating. Boeing was the biggest drag on the Dow Jones Industrial Average with a loss of 4.5 percent.

The S&P 500 index fell 45 points, or 1.7 percent, to 2,690.

The Dow lost 395 points, or 1.6 percent, to 25,017. It was down as much as 512 earlier.

The Nasdaq composite lost 219 points, or 3 percent, to 7,028.

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2:10 p.m.

Stocks are falling sharply as technology and internet companies suffer sharp losses after the U.S. and China clashed at a Pacific Rim summit over the weekend.

Apple fell 4 percent, Facebook lost 5.5 percent and Amazon fell 4.7 percent.

The Dow Jones Industrial Average fell 500 points in early afternoon trading Monday.

Retailers and industrial companies also dropped.

The biggest drag on the Dow was Boeing with a loss of 5.4 percent.

Nissan’s U.S.-listed shares slumped 6.1 percent after the carmaker’s chairman, Carlos Ghosn, was arrested after allegedly under-reporting his income.

The S&P 500 index fell 53 points, or 1.9 percent, to 2,683.

The Dow fell 504 points, or 2 percent, to 24,909. The Nasdaq composite lost 223 points, or 3.1 percent, to 7,025.

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11:45 a.m.

Technology stocks are leading a slump on Wall Street led by big drops in Apple and Facebook.

Apple lost 3.9 percent in midday trading Monday and Facebook gave up 5.2 percent.

Nissan’s U.S.-listed shares slumped 5.1 percent after the carmaker’s chairman, Carlos Ghosn, was arrested after allegedly under-reporting his income.

High-dividend stocks like utilities held up better than the rest of the market.

The S&P 500 index fell 43 points, or 1.6 percent, to 2,693.

The Dow Jones Industrial Average lost 392 points, or 1.5 percent, to 25,017. The Nasdaq composite lost 187 points, or 2.6 percent, to 7,060.

Bond price didn’t move much. The yield on the 10-year Treasury note held steady at 3.07 percent.

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9:35 a.m.

Stocks are opening slightly lower on Wall Street led by declines in technology and industrial companies.

Apple sank 2.6 percent in early trading Monday and Amazon lost 1.5 percent. Boeing gave up 1 percent.

Nissan’s U.S.-listed shares slumped 8.5 percent after the company’s chairman Carlos Ghosn was arrested after allegedly under-reporting his income.

The S&P 500 index fell 6 points, or 0.2 percent, to 2,729.

The Dow Jones Industrial Average lost 53 points, or 0.2 percent, to 25,365. The Nasdaq composite lost 38 points, or 0.5 percent, to 7,209.

The price of crude oil fell 1.7 percent.

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