NEW YORK (AP) — The latest on developments in financial markets (all times local):
Stocks are skidding again on Wall Street as the market continues a sell-off that began late the previous day.
Big losses for insurer AIG are hurting financial stocks Thursday, while Cardinal Health tumbles and takes the health care sector lower.
Tesla sank 8.3 percent after the electric car maker posted another big loss. CEO Elon Musk was dismissive with analysts on a conference call, calling one question “boring.”
The S&P 500 index slid 34 points, or 1.3 percent, to 2,601.
The Dow Jones industrial average fell 350 points, or 1.5 percent, to 23,571. The Nasdaq composite fell 88 points, or 1.2 percent, to 7,012.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.93 percent.
Stocks are opening broadly lower on Wall Street, putting the market on track for its third decline this week.
Financial companies and health care stocks contributed the most to the declines in early trading on Thursday.
AIG slumped 8.4 percent and Cardinal Health, a drug distributor, sank 14.5 percent. Both companies reported weak results for their latest quarter.
Electric car maker Tesla dropped 6.2 percent after reporting another quarter of heavy cash burn.
The S&P 500 index slid 17 points, or 0.7 percent, to 2,618.
The Dow Jones industrial average fell 181 points, or 0.7 percent, to 23,748. The Nasdaq composite fell 43 points, or 0.6 percent, to 7,057.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.95 percent.