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Saturday December 15th, 2018 4:08AM

Markets Right Now: Dow sinks 500 as bond yields rise

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

2:11 p.m.

Stocks are extending their slump on Wall Street, led by drops in big technology companies, as rising bond yields draw investors out of stocks.

The Dow Jones Industrial Average fell as much as 519 points in afternoon trading Wednesday.

Technology stocks, the biggest winners in the market over the past year, took some of the worst losses. Chipmaker Nvidia dropped 5 percent.

The S&P 500 is on track for its fifth drop in a row and its biggest decline since April.

The yield on the 10-year Treasury rose to 3.23 percent, the highest level in seven years.

The S&P 500 fell 54 points, or 1.9 percent, to 2,825.

The Dow was down 482 points, or 1.8 percent, to 25,950. The Nasdaq fell 177 points, or 2.3 percent, to 7,560.

___

11:45 a.m.

Stocks are falling sharply on Wall Street as bond yields continue to rise, putting the S&P 500 index on track for its fifth drop in a row.

Technology stocks, some of the biggest winners over the past 12 months, fell much more than the rest of the market Wednesday. Microsoft gave up 3.3 percent.

Treasury yields rose again, tempting more investors away from stocks. The yield on the 10-year Treasury note rose to 3.22 percent.

Sears Holdings plunged 37 percent after the Wall Street Journal reported that the struggling retailer is preparing a bankruptcy filing.

The S&P 500 fell 39 points, or 1.4 percent, to 2,840.

The Dow Jones Industrial Average lost 342 points, or 1.3 percent, to 26,090. The Nasdaq composite fell 152 points, or 2 percent, to 7,585.

___

9:35 a.m.

Stocks are opening broadly lower on Wall Street led by drops in technology and industrial companies.

Microsoft lost 1.4 percent in early trading Wednesday and 3M gave up 1.6 percent.

Sears Holdings plunged 37 percent after the Wall Street Journal reported that the struggling retailer is preparing a bankruptcy filing.

The S&P 500 index fell 15 points, or 0.6 percent, to 2,864.

The Dow Jones Industrial Average lost 117 points, or 0.4 percent, to 26,313. The Nasdaq composite fell 73 points, or 1 percent, to 7,663.

Bond prices fell. The yield on the 10-year Treasury rose to 3.23 percent.

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