NEW YORK (AP) — The latest on developments in financial markets (all times local):
9:35 a.m.
Stocks are falling Monday as investors try to gauge the Federal Reserve’s next move on interest rates.
A strong U.S. jobs report Friday dimmed investors’ expectations that the Fed would cut its benchmark interest rate, possibly by as much as half a percentage point, at a meeting later this month.
Shares of banks and technology stocks fell the most shortly after the open.
Deutsche Bank shares traded in the U.S. dropped 6.3% after the German bank announced a massive restructuring.
The S&P 500 fell 15 points, or 0.5%, to 2,974.
The Dow Jones Industrial Average lost 150 points, or 0.6%, to 26,771. The Nasdaq fell 60 points, or 0.7%, to 8,101.
Bond prices rose. The yield on the 10-year Treasury slipped to 2.02%.
