Markets Right Now: US stocks sink as European outlook dims

FILE- In this Tuesday, Jan. 29, 2019, file photo specialist Specialist Glenn Carell, center, and trader John Panin work on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EST on Thursday, Feb. 7. (AP Photo/Richard Drew, File)

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

4 p.m.

Stocks are closing broadly lower on Wall Street as traders were discouraged by more disappointing news on the global economy and company profits.

Technology companies, health care stocks and banks led the way lower on Thursday. Twitter slumped almost 10 percent after issuing a weak forecast.

The declines followed steeper losses in Europe, where the European Union slashed its forecast for economic growth in the 19 countries that use the euro.

The S&P 500 fell 25 points, or 0.9 percent, to 2,706.

The Dow Jones Industrial Average lost 220 points, or 0.9 percent, at 25,169. The Nasdaq dropped 86 points, or 1.2 percent, to 7,288.

Traders sought safety in U.S. government bonds, sending yields lower. The yield on the 10-year Treasury fell to 2.66 percent.

___

11:45 a.m.

Stocks are falling on Wall Street in midday trading, following European markets lower, as investors became more pessimistic about the global economic outlook.

The latest blow to confidence came Thursday as European officials slashed their forecast for economic growth in the eurozone this year.

U.S. indexes fell broadly, with the worst drops going to internet and technology companies.

Facebook fell 2.4 percent. Twitter plunged 10.4 percent after reporting weak user numbers.

The S&P 500 fell 38 points, or 1.4 percent, to 2,692.

The Dow Jones Industrial Average lost 339 points, or 1.3 percent, at 25,050. The Nasdaq dropped 119 points, or 1.6 percent, to 7,255.

Traders sought safety in U.S. government bonds, sending yields lower. The yield on the 10-year Treasury fell to 2.66 percent.

___

9:35 a.m.

Stocks are opening lower on Wall Street, following declines in Europe on more discouraging news on Europe's economy.

Technology and internet companies fell the most in early trading Thursday.

Facebook sank 1.5 percent after German authorities said the company can't use customer data from other apps to target ads without the explicit consent of users.

Traders were disappointed by news that the European Union slashed their growth forecast for the 19 countries that use the euro. Germany's index lost 1.8 percent.

The S&P 500 fell 20 points, or 0.7 percent, to 2,711.

The Dow Jones Industrial Average lost 174 points, or 0.7 percent, at 25,214. The Nasdaq dropped 73 points, or 1 percent, to 7,303.

Bond prices rose. The yield on the 10-year Treasury fell to 2.66 percent.

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