Markets Right Now: Tech slump leaves stock market lower
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NEW YORK — The latest on developments in financial markets (all times local):
A pullback in technology stocks knocked out an early rally, breaking a seven-day surge for the Nasdaq composite.
Chipmakers were in focus Tuesday after the White House blocked a hostile takeover of Qualcomm by rival Broadcom, citing national security concerns. Qualcomm slumped 5
Cavium, a chipmaker that has agreed to be bought by Bermuda-based rival Marvell Technology, dropped 4.4
Banks and consumer-focused stocks also slid. Disney lost 1.4
Stocks started the day higher, and bond yields fell, after the government reported that inflation in consumer prices remained muted last month.
The S&P 500 fell 17 points, or 0.6
The Dow Jones industrial average lost 171 points, or 0.7
Stocks are mostly higher on Wall Street after an early gain mostly faded by midday.
Indexes started higher on Tuesday and bond yields fell as traders were encouraged to see that inflation remained muted last month.
The early gains were led by technology stocks and retailers, but by lunchtime both those sectors were lower.
Chipmaker Qualcomm slumped 4.1
Safe-play stocks like phone and real estate companies were among the biggest gainers.
The S&P 500 was little changed at 2,782.
The Dow Jones industrial average climbed 31 points, or 0.1
Stocks are opening higher on Wall Street and bond yields are falling as investors are relieved to see that inflation remained in check last month.
Technology stocks and retailers, investors'
Google parent Alphabet rose 1
Chipmaker Qualcomm slumped 3.3
The S&P 500 rose 13 points, or 0.5
The Dow Jones industrial average climbed 116 points, or 0.5
Bond prices rose. The yield on the 10-year Treasury note fell to 2.84