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Markets Right Now: US stock indexes finish mostly lower

Last Updated May 24, 2018 at 4:21 pm EDT

FILE- This Dec. 21, 2016, file photo shows the New York Stock Exchange. U.S. stocks are lower Thursday, May 24, 2018, morning after President Donald Trump said he is canceling a planned meeting with North Korean leader Kim Jong Un. (AP Photo/Mark Lennihan, File)

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

4 p.m.

U.S. stocks are finishing mostly lower as energy companies skidded along with oil prices.

The market dropped Thursday after President Donald Trump said he cancelled a meeting with North Korean leader Kim Jong Un, but recovered most of those losses.

Crude oil prices and energy companies fell as investors reacted to reports the nations of OPEC may start producing more oil. Exxon Mobil fell 2.3 per cent.

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

The S&P 500 index fell 5 points, or 0.2 per cent, to 2,727.

The Dow Jones industrial average lost 75 points, or 0.3 per cent, to 24,811. The Nasdaq composite slipped 1 point to 7,424.

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

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11:45 a.m.

Stocks are skidding after President Donald Trump cancelled 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 per cent.

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

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

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

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

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

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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 per cent and Wells Fargo also lost 1.3 per cent.

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

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

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

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