Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
NEW YORK (AP) — U.S. stocks are moving lower for a second day in a row as investors position themselves for corporate earnings reports.
The Dow Jones industrial average fell 137 points, or 0.8 percent, to 16,886 at midday Tuesday. Boeing and Goldman Sachs fell the most in the index.
The Standard & Poor's 500 index lost 15 points, or 0.8 percent, to 1,962. The Nasdaq fell 72 points, or 1.6 percent, to 4,378.
The Dow and the S&P 500 set record highs last week.
AbbVie fell $1.63, or 3 percent, to $55.77 after the company raised its offer to buy rival drugmaker, Shire.
Major U.S. companies start reporting their earnings this week, beginning with aluminum maker Alcoa later Tuesday.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.57 percent.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
