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FILE – In this July 6, 2015, file photo, American flags fly at the New York Stock Exchange on Wall Street, in New York. Global stock markets extended losses, Wednesday, Oct. 14, 2015, as lower Chinese inflation added to data suggesting slowing growth in the world’s No. 2 economy. (AP Photo/Mark Lennihan, File)
By STEVE ROTHWELL, AP Markets Writer
NEW YORK (AP) — Stocks have given up an early gain and are moving lower in midday trading, led by declines in retailers after a disappointing sales forecast by Wal-Mart.
Wal-Mart plunged 9 percent Wednesday after the company said sales would be “relatively flat” in its current fiscal year because of currency fluctuations.
Traders were also sizing up a mixed batch of earnings. JPMorgan Chase led financial stocks lower after its earnings fell short of forecasts.
The Dow Jones industrial average gave up 97 points, or 0.6 percent, to 16,984 as of 11:45 a.m. Eastern time.
The Standard & Poor’s 500 fell six points, or 0.3 percent, to 1,997. The Nasdaq composite slipped 12 points, or 0.3 percent, to 4,784.
Bond prices rose. The yield on the 10-year Treasury note fell to 2 percent.
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