published on February 20, 2018 - 2:07 PM
Written by Edward Smith

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

4 p.m.
Stocks took a turn lower in afternoon trading, ending a six-day winning streak.

Walmart plunged 10 percent Tuesday after reporting weak online sales and disappointing earnings.

Other retailers and grocery store operators also fell. Target gave up 3 percent and Ross Stores lost 2.7 percent.

A sell-off in the afternoon wiped out early gains, which were led by technology companies.

NXP Semiconductor jumped 6 percent after Qualcomm raised its offer for the company.

The Standard & Poor’s 500 index fell 15 points, or 0.6 percent, to 2,716.

The Dow Jones industrial average lost 254 points, or 1 percent, to 24,964. The Nasdaq composite slipped 5 points, or 0.1 percent, to 7,234.

Bond prices fell. The yield on the 10-year Treasury rose to 2.89 percent.

11:45 a.m.
Stocks are mostly higher in midday trading on Wall Street as gains for technology companies offset losses elsewhere in the market.

Chipmakers posted some of the biggest gains Tuesday after Qualcomm raised its bid for NXP Semiconductors. NXP jumped 6 percent.

Walmart plunged 9 percent, dragging other retailers down with it, after reporting a disappointing quarter and weaker online sales than investors were expecting.

The market is coming off a six-day winning streak. Trading was closed Monday for Presidents Day.

The Standard & Poor’s 500 index rose 2 points, or 0.1 percent, to 2,734.

The Dow Jones industrial average fell 76 points, or 0.3 percent, to 25,140. The Nasdaq rose 49 points, or 0.7 percent, to 7,289.

Bond prices fell. The yield on the 10-year Treasury rose to 2.91 percent.

9:35 a.m.
Stocks are opening broadly lower as the market pulls back after a six-day winning streak.

Walmart slumped 7 percent in early trading Tuesday after reporting a slowdown in online sales and earnings that missed analysts’ forecasts.

Gap fell 5 percent after saying the head of the Gap brand will leave the company.

NXP Semiconductors rose 6 percent after Qualcomm raised its offer to buy the company.

The Standard & Poor’s 500 index fell 5 points, or 0.2 percent, to 2,726.

The Dow Jones industrial average gave up 76 points, or 0.3 percent, to 25,140. The Nasdaq composite slipped 1 point to 7,237.

Bond prices fell. The yield on the 10-year Treasury rose to 2.89 percent.


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