Markets Right Now: Trade worries knock stocks lower again

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

4 p.m.

Stocks are closing out their worst week of the year as traders worry that President Donald Trump’s escalating trade war with China could damage the economy.

Technology stocks came under the heaviest selling pressure Friday. Apple lost 2.2% and Broadcom gave back 2.4%.

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Safe-play stocks did relatively well as investors went on the defensive. Utilities and real estate companies rose.

Oil prices turned higher a day after their biggest plunge in more than four years.

The S&P 500 fell 21 points, or 0.7%, to 2,932. It lost 3.1% for the week.

The Dow Jones Industrial Average lost 98 points, or 0.4%, to 26,485. The Nasdaq fell 107 points, or 1.3%, to 8,004.

Bond prices rose. The yield on the 10-year Treasury fell to 1.85%.

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11:45 a.m.

Stocks are on track for their worst drop since May as traders continue to take cover following President Donald Trump’s latest escalation of his trade war with China.

Technology stocks sustained some of the biggest losses in midday trading Friday. Apple lost 2.7% and Western Digital gave up 2.6%.

Oil prices turned higher a day after their biggest plunge in more than four years.

The S&P 500 index fell 32 points, or 1%, to 2,924.

The Dow Jones Industrial Average lost 229 points, or 0.9%, to 26,353. The Nasdaq fell 126 points, or 1.6%, to 7,983.

European stocks fell even more. The Euro Stoxx index gave up 3.3%.

Bond prices rose. The yield on the 10-year Treasury fell to 1.86%.

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9:35 a.m.

Stocks are opening slightly lower on Wall Street as investors continue to pull back out of fear that the escalating trade battle between the U.S. and China will slow the global economy.

Technology companies, which would be especially exposed to damage from trade frictions, led the way lower in early trading Friday. Hard drive maker Western Digital sank 3.1%.

Oil prices turned higher following their biggest plunge in more than four years a day earlier. That helped energy companies. Chevron was up 1%.

The S&P 500 index fell 9 points, or 0.3%, to 2,944.

The Dow Jones Industrial Average lost 70 points, or 0.3%, to 26,506. The Nasdaq fell 54 points, or 0.7%, to 8,058.

Bond prices rose. The yield on the 10-year Treasury fell to 1.87%.

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