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Markets Right Now: Stocks sink as China said to rebuff talks

Last Updated Sep 24, 2018 at 4:20 pm EST

NEW YORK, N.Y. – The latest on developments in financial markets (all times local):

4 p.m.

Stocks are closing mostly lower on Wall Street after China and the U.S. put tariffs on more of each other’s goods.

Investors were also discouraged Monday by a report that China rebuffed a plan for more talks on trade.

Oil prices rose after OPEC decided against increasing its output further. That helped send energy stocks higher.

Technology stocks also held up better than the rest of the market. Banks and industrial companies had some of the worst losses.

Comcast fell 6 per cent after winning an auction for British satellite broadcaster Sky.

The S&P 500 index fell 10 points, or 0.4 per cent, to 2,919.

The Dow Jones Industrial Average fell 181 points, or 0.7 per cent, to 26,562. The Nasdaq composite edged up 6 points, or 0.1 per cent, to 7,993.

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11:45 a.m.

Stocks are broadly lower on Wall Street after China reportedly rebuffed a plan for talks with the U.S. on resolving their trade dispute.

Oil prices rose Monday after OPEC decided against increasing its output further.

Industrial companies and banks fell more than the rest of the market.

Comcast fell 7 per cent after the company won an auction for British satellite broadcaster Sky.

Sirius XM dropped 8.2 per cent after announcing a deal to buy streaming music company Pandora. Pandora rose 2.2 per cent.

The S&P 500 index fell 12 points, or 0.4 per cent, to 2,917.

The Dow Jones Industrial Average fell 165 points, or 0.6 per cent, to 26,578. The Nasdaq composite lost 14 points, or 0.2 per cent, to 7,972.

Bond prices fell. The yield on the 10-year Treasury rose to 3.08 per cent.

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9:35 a.m.

Stocks are opening broadly lower on Wall Street after China reportedly rebuffed a plan for talks with the U.S. on resolving their trade dispute.

Crude oil prices rose early Monday after OPEC decided against increasing its output further.

Comcast fell 5.6 per cent. Over the weekend the company won an auction for British satellite broadcaster Sky.

Sirius XM fell 3.2 per cent after announcing a deal to buy streaming music company Pandora. Pandora rose 8 per cent.

The S&P 500 index fell 9 points, or 0.3 per cent, to 2,920.

The Dow Jones Industrial Average fell 58 points, or 0.7 per cent, to 26,670. The Nasdaq composite lost 54 points, or 0.7 per cent, to 7,932.

Bond prices fell. The yield on the 10-year Treasury rose to 3.08 per cent.