Markets Right Now: Stocks sink as tariff deadline approaches

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

4 p.m.

Stocks recovered much of an early swoon and ended moderately lower as a midnight deadline approached for the U.S. and China to reach a trade deal.

Negotiators met in Washington Thursday. If they don’t reach a deal, the U.S. has said it would raise its tariffs on $200 billion worth of Chinese goods as of 12:01 a.m. Friday.

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Technology companies fell the most. Intel lost 5.3%.

The S&P 500 fell 8 points, or 0.3%, to 2,870. The index is headed for its biggest weekly loss of the year, and has given back all of the gains it made in April.

The Dow Jones Industrial Average lost 138 points, or 0.5%, to 25,828. It was down almost 450 points earlier.

The Nasdaq fell 32 points, or 0.4%, to 7,910.

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11:45 a.m.

Stocks are falling broadly on Wall Street as a midnight deadline approaches for the U.S. and China to reach a trade deal before higher tariffs kick in.

Top trade officials from both countries are meeting in Washington Thursday. If they don’t reach a deal, the U.S. has said it would raise its tariffs on $200 billion worth of Chinese goods as of 12:01 a.m. Friday.

Technology and health care companies fell the most. Intel lost 5.4% and Medtronic fell 2.3%.

The S&P 500 index fell 32 points, or 1.1%, to 2,846.

The Dow Jones Industrial Average lost 394 points, or 1.5%, to 25,577. The Nasdaq fell 100 points, or 1.3%, to 7,842.

Bond prices rose. The yield on the 10 year Treasury fell to 2.44%.

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9:35 a.m.

Stocks are opening broadly lower on Wall Street as investors keep a close eye on trade talks between the U.S. and China.

Top trade officials are meeting in Washington Thursday in hopes of reaching an agreement ahead of an early Friday deadline after which the U.S. has said it would raise its tariffs on $200 billion worth of Chinese goods.

Technology companies and banks fell the most in early trading. Intel lost 4.3% and Citigroup gave up 1.6%.

The S&P 500 index fell 22 points, or 0.8%, to 2,856.

The Dow Jones Industrial Average lost 200 points, or 0.8%, to 25,767. The Nasdaq fell 84 points, or 1.1%, to 7,857.

Bond prices rose. The yield on the 10 year Treasury fell to 2.44%.

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