Weak earnings from Ford, others drag stocks lower
Amazon, Ford drag stocks lower; Escalating tensions in Ukraine weigh on the broader market
NEW YORK (AP) — Stocks are heading lower in midday trading following disappointing earnings reports from Ford and other big companies.
Escalating tensions in Ukraine also weighed on the market.
Amazon slumped 9 percent after the online retailer forecast an operating loss for the second quarter as it continues to invest in its business.
The Standard & Poor’s 500 index fell 10 points, or 0.6 percent, to 1,868 as of noon Eastern time. The index is slightly higher for the week.
The Dow Jones industrial average fell 113 points, or 0.7 percent, to 16,385. The Nasdaq composite fell 52 points, or 1.3 percent, to 4,095.
Ford fell 3 percent after reporting earnings that fell short of Wall Street’s expectations.
Bond prices rose slightly. The yield on the 10-year Treasury note fell to 2.66 percent.