Markets Right Now: S&P 500, Dow lower as tech falters

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

12:00 p.m.

The major stock indexes are edging lower Thursday, with the Dow and S&P 500 slipping below records set a day earlier.

The tech sector showed the biggest decline. Cisco fell 7.4% after giving investors a surprisingly weak revenue forecast.

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Traders are looking for clarity on the status of U.S.-China trade talks. Chinese officials said Thursday that a rollback of tariffs should be part of any deal.

Federal Reserve Chairman Jerome Powell told a House committee that he sees no signs of an imminent recession in the U.S.

The S&P 500 fell 7 points, or 0.2%, to 3,086.

The Dow Jones Industrial Average fell 70 points, or 0.2%, to 27,713. The Nasdaq fell 35 points, or 0.5%, to 8,446.

Bond prices rose. The yield on the 10-year Treasury fell to 1.81%.

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9:35 a.m.

Stocks are opening slightly lower on Wall Street led by a decline in technology companies.

Cisco fell 6.4% early Thursday. Walmart raised its profit forecast and rose 2.8%.

Traders are looking for clarity on the status of U.S.-China trade talks. Chinese officials said Thursday that a rollback of tariffs should be part of any deal.

Federal Reserve Chairman Jerome Powell makes another appearance before Congress, where he is expected to say the Fed will leave rates unchanged in the coming months, unless the economy shows signs of worsening.

The S&P 500 fell less than 1 point to 3,093.

The Dow Jones Industrial Average fell 3 points to 27,780. The Nasdaq fell 12 points, or 0.1%, to 8,469.

Bond prices rose. The yield on the 10-year Treasury fell to 1.83%.

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