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Jun 27, 4:06 PM EDT

Markets Right Now: Tech, phone companies lead stocks lower


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The latest on developments in financial markets (All times local):

4:00 p.m.

Technology and phone companies led stocks modestly lower in a day of choppy trading on Wall Street.

Major indexes flittered between small gains and losses through the middle of the day Tuesday, then turned lower in the early afternoon and stayed lower through the closing bell.

Seagate Technology slumped 6.8 percent and Advanced Micro Devices lost 4.9 percent. Verizon gave up 2 percent.

Banks were the only major industry group to rise. JPMorgan Chase climbed 0.9 percent.

The Standard & Poor's 500 index lost 19 points, or 0.8 percent, to 2,419.

The Dow Jones industrial average gave up 98 points, or 0.4 percent, to 21,310. The Nasdaq composite fell 100 points, or 1.6 percent, to 6,146.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.20 percent.

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11:45 a.m.

U.S. stock indexes were wavering between small gains and losses as investors sized up the latest company and economic news.

Phone and utilities companies were among the biggest decliners in midday trading Tuesday. Verizon lost 1.8 percent.

Banks led the gainers. JPMorgan Chase rose 1.9 percent.

Energy stocks also rose as crude oil prices headed higher. Homebuilders were up following new data on home prices.

Darden Restaurants rose 4.3 percent after reporting earnings that were better than analysts expected.

The Standard & Poor's 500 index was little changed at 2,438.

The Dow Jones industrial average edged up 8 points, or 0.1 percent, to 21,417. The Nasdaq composite fell 23 points, or 0.4 percent, to 6,223.

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9:35 a.m.

Stocks are opening slightly lower on Wall Street, led by declines in phone and technology companies.

Verizon lost 1.8 percent early Tuesday, AT&T fell 1.1 percent and Microsoft slipped 0.8 percent.

Darden Restaurants rose 3 percent after reporting earnings that were better than analysts expected.

The Standard & Poor's 500 index fell 5 points, or 0.2 percent, to 2,432.

The Dow Jones industrial average lost 24 points, or 0.1 percent, to 21,385. The Nasdaq composite fell 21 points, or 0.3 percent, to 6,225.

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