Markets Right Now: Stocks fall after Korea meeting cancelled

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

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11:45 a.m.

Stocks are skidding after President Donald Trump canceled a meeting with North Korean leader Kim Jong Un.

Energy companies are falling along with oil prices as investors respond to reports the nations of OPEC may start producing more oil. Exxon Mobil lost 2.3 percent.

Car companies fell as the Trump administration considered tariffs on imported cars. Toyota lost 1.8 percent.

Best Buy fell 5.5 percent after issuing a weak outlook. Williams-Sonoma jumped 10.5 percent after raising its forecasts.

The S&P 500 index fell 12 points, or 0.5 percent, to 2,720.

The Dow Jones industrial average lost 169 points, or 0.7 percent, to 24,714. The Nasdaq composite lost 30 points, or 0.4 percent, to 7,395.

Bond prices rose. The yield on the 10-year Treasury fell to 2.97 percent.

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9:35 a.m.

Stocks are opening on a weak note as falling oil prices pull energy companies lower.

Banks are also falling in early trading Thursday as interest rates decline. Chevron gave up 1.3 percent and Wells Fargo also lost 1.3 percent.

Best Buy fell 5.5 percent after issuing a weak outlook, and Williams-Sonoma jumped 10.5 percent after raising its forecasts following a strong quarter.

The S&P 500 index fell 1 point, or 0.1 percent, to 2,731.

The Dow Jones industrial average lost 21 points, or 0.1 percent, to 24,865. The Nasdaq composite edged up 3 points, or 0.1 percent, to 7,430.

Bond prices rose. The yield on the 10-year Treasury fell to 2.97 percent.