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Markets Right Now: Health care, banks lead US stocks lower

Posted April 18

The latest on developments in financial markets (All times local):

4:00 p.m.

Stocks are closing lower on Wall Street as poor results from Johnson & Johnson, Goldman Sachs and other companies put a damper on buying.

Johnson & Johnson lost 3.1 percent Tuesday and drug distributor Cardinal Health slumped 11.5 percent.

Goldman Sachs fell 4.7 percent after reporting a rare miss on its trading desk.

European markets tumbled and the pound rose after the British government called for an early election.

The Standard & Poor's 500 index fell 6 points, or 0.3 percent, to 2,342.

The Dow Jones industrial average gave up 113 points, or 0.6 percent, to 20,523. Goldman Sachs accounted for most of that loss.

The Nasdaq composite slipped 7 points, or 0.1 percent, to 5,849.

Bond prices rose. The yield on the 10-year Treasury fell to 2.17 percent.

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11:45 a.m.

Health care stocks and banks are leading U.S. indexes broadly lower in midday trading on Wall Street.

Johnson & Johnson lost 3.4 percent Tuesday and drugmaker Cardinal Health slumped 11.5 percent.

Goldman Sachs fell 4.6 percent after posting results that fell short of analysts' estimates, dragged down by a rare miss in trading.

European markets tumbled and the pound rose after the British government called for an early election next month.

The Standard & Poor's 500 index fell 9 points, or 0.4 percent, to 2,339.

The Dow Jones industrial average gave up 131 points, or 0.7 percent, to 20,500. Goldman Sachs accounted for half of that loss.

The Nasdaq slipped 20 points, or 0.4 percent, to 5,836.

Bond prices rose. The yield on the 10-year Treasury fell to 2.19 percent.

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9:35 a.m.

Stocks are sliding in early trading on Wall Street as health care companies and banks move lower.

Goldman Sachs sank 3 percent early Tuesday after its latest earnings fell short of forecasts due to an unusual miss in its trading business. That took about 50 points off the Dow Jones industrial average.

In health care, Johnson & Johnson lost 2.7 percent after its revenue came in below forecasts and Cardinal Health plunged 10.6 percent after issuing a weak forecast.

The Standard & Poor's 500 index fell 5 points, or 0.2 percent, to 2,343.

The Dow lost 75 points, or 0.4 percent, to 20,563. The Nasdaq composite slipped 10 points, or 0.2 percent, to 5,846.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.21 percent.

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