Markets Right Now: Banks lead a broad decline in US stocks

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Industrial and technology stocks were also falling. Chipmaker Micron Technology fell 4 per cent.

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The Dow Jones industrial average fell 159 points, or 0.8 per cent, to 19,794. The Standard & Poor’s 500 index gave back 16 points, or 0.7 per cent, to 2,258. The Nasdaq composite dropped 50 points, or 0.9 per cent, to 5,513.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.32 per cent from 2.37 per cent a day earlier.

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9:35 a.m.

Banks and technology companies are leadings stock lower in early trading on Wall Street.

Health care stocks also fell. Pfizer fell 1.4 per cent shortly after the opening bell Thursday, the biggest decline in the Dow Jones industrial average.

Drugmakers continued to take losses a day after President-elect Donald Trump criticized their pricing policies.

The Dow fell 93 points, or 0.5 per cent, to 19,859. The S&P 500 gave back 10 points, or 0.4 per cent, to 2,265. The Nasdaq composite declined 33 points, or 0.6 per cent, to 5,530.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.33 per cent.

The Associated Press