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Markets Right Now: Stocks sink on Trump's trade comments

NEW YORK — The latest on developments in financial markets (all times local):

9:35 a.m.

Stocks are opening sharply lower on Wall Street after President Donald Trump indicated he was in no hurry to make a trade deal with China.

Technology stocks and banks led the declines. Tech stocks are particularly vulnerable to swings in trade talks because they do so much business in China. Apple sank 2.3%.

Speaking in London where he’s attending a NATO summit, Trump said he had “no deadline” for making a deal, suggesting there may not be an agreement this year, as previously hoped.

The S&P 500 fell 32 points, or 1% to 3,081.

The Dow Jones Industrial Average dropped 300 points, or 1.1%, to 27,496. The Nasdaq lost 100 points, or 1.2%, to 8,467.

Bond prices rose. The yield on the 10-year Treasury fell to 1.76%.

The Associated Press