US stocks pull back in early trading
Mar. 08, 2016
NEW YORK (AP) — Stocks are pulling back in early trading, led by declines in materials and energy companies.
Chesapeake Energy and Southwestern Energy each fell 9 percent in the first minutes of trading Tuesday.
Hamburger chain Shake Shack dropped 8 percent after delivering results and an outlook that disappointed investors.
Traders were also discouraged by weak trade figures from China.
The Dow Jones industrial average fell 90 points, or 0.6 percent, to 16,980 as of 9:35 a.m. Eastern time.
The Standard & Poor's 500 index fell 14 points, or 0.8 percent, to 1,987. The Nasdaq composite gave up 37 points, or 0.8 percent, to 4,670.
Bond prices rose. The yield on the 10-year Treasury note fell to 1.82 percent.