Markets Right Now: Stocks pare losses in midday trade

NEW YORK (AP) - The latest on developments in financial markets

Posted: Mar 2, 2018 10:04 AM

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

11:45 a.m.

Stocks are mostly lower on Wall Street as investors worry that an escalation of trade tensions could harm big U.S. companies and the global economy.

Indexes opened sharply lower on Friday, following big declines in Asia and Europe, but pared their losses by midday.

Blue-chip companies, which do more sales overseas than smaller ones, fared worse than the rest of the market.

Boeing, Caterpillar and 3M pulled the Dow Jones industrials lower.

Investors remain concerned that President Donald Trump's plan to impose tariffs on steel and aluminum will lead to retaliation from other countries.

The Dow was down 161 points, or 0.7 percent, to 24,444. It was down 390 earlier.

The Standard & Poor's 500 was flat at 2,676. The Nasdaq rose 23 points, or 0.3 percent, to 7,203.

___

9:35 a.m.

Stocks are opening lower Friday as investors remain concerned that President Donald Trump's plan to impose tariffs on steel and aluminum imports will lead to retaliation from other countries.

Big industrial users of steel and aluminum such as Boeing opened with losses. Steelmakers also opened lower after posting sharp gains Thursday.

The retail sector is sinking with the exception of Gap. JC Penney is down 8 pct after reporting weak holiday sales. Gap shares rose 6 percent.

Treasury yields rose, as did gold, on inflation concerns.

The Standard & Poor's 500 index fell 16 points, or 0.6 percent, to 2,661. The benchmark index is down 3 percent so far this week.

The Dow Jones industrial average sank 223 points, or 0.9 percent, to 24,389. The Nasdaq fell 57 points, or 0.8 percent, to 7,129.

(Copyright 2018 The Associated Press.) 

California Coronavirus Cases

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Cases: 3543340

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CountyCasesDeaths
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Santa Clara1095061747
Kern102137786
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Hi: 64° Lo: 39°
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Oroville
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Feels Like: 58°
Chico
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Chico
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Hi: 64° Lo: 48°
Feels Like: 55°
Strong wind continues to blow through the valley this afternoon, and will last through the evening. Thursday will still be a fairly breezy day, but the wind won't be as strong and our temperatures will be warmer. More wind is coming Friday and Saturday.
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