Markets Right Now: Health care, tech lead US stocks lower

FeaturesAssociated Press

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

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4 p.m.

Stocks ended broadly lower on Wall Street as weakness in health care, technology companies and banks offset gains elsewhere in the market.

Microsoft led the declines in big tech companies with a 1 percent drop Wednesday. Drugmaker Eli Lilly gave up 1.7 percent.

Centene sank 5 percent after agreeing buy WellCare Health Plans for more than $15 billion.

Banks fell as bond yields continued to drop. Bank of New York Mellon gave up 1.5 percent.

The S&P 500 index fell 13 points, or 0.5 percent, to 2,805.

The Dow Jones Industrial Average fell 32 points, or 0.1 percent, to 25,625.

The Nasdaq gave back 48 points, or 0.6 percent, to 7,643.

Bond prices rose. The yield on the benchmark 10-year Treasury fell to 2.38 percent.

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11:45 a.m.

Stocks turned broadly lower in midday trading on Wall Street, erasing the market's gains from a day earlier.

Technology and health care companies fell the most Wednesday. Microsoft and UnitedHealth Group each lost 1.9 percent.

Centene sank 9.1 percent after agreeing buy WellCare Health Plans for more than $15 billion. WellCare jumped 8 percent.

Banks fell as bond yields continued to drop. Bank of New York Mellon gave up 1.8 percent.

The S&P 500 index fell 30 points, or 1.1 percent, to 2,787.

The Dow Jones Industrial Average fell 223 points, or 0.9 percent, to 25,438.

The Nasdaq gave back 106 points, or 1.4 percent, to 7,585.

Bond prices rose. The yield on the benchmark 10-year Treasury fell to 2.36 percent.

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9:35 a.m.

Stocks are opening modestly higher on Wall Street, led by gains in industrial and technology companies.

Railroad operator Union Pacific rose 1 percent Wednesday and HP rose 0.9 percent.

WellCare Health Plans jumped 10.6 percent after the company agreed to be acquired by rival Centene for more than $15 billion.

The Dow Jones Industrial Average rose 87 points, or 0.3 percent, to 25,742. The S&P 500 rose 3 points, or 0.1 percent, to 2,821.

The Nasdaq edged up 7 points, or 0.1 percent, to 7,698.

Bond prices rose, sending yields lower. The yield on the benchmark 10-year Treasury note fell to 2.38 percent.