US stocks slide in early trading amid bond market volatility

Specialist Paul Cosentino, center, works at the post that handles Verizon on the floor of the New York Stock Exchange, Tuesday, May 12, 2015. Verizon is buying AOL for about $4.4 billion, advancing the telecom's push in both mobile and advertising fields. (AP Photo/Richard Drew) Specialist Paul Cosentino, center, works at the post that handles Verizon on the floor of the New York Stock Exchange, Tuesday, May 12, 2015. Verizon is buying AOL for about $4.4 billion, advancing the telecom's push in both mobile and advertising fields. (AP Photo/Richard Drew)

By Associated Press May 12, 2015 2 min read

U.S. stocks fell sharply early Tuesday, extending the market’s losses from the day before. Investors weighed the implications of a global slump in bond markets and rising oil prices. AOL soared on news that Verizon has agreed to acquire the Internet pioneer for about $4.4 billion.

KEEPING SCORE: The Dow Jones industrial average fell 142 points, or 0.8 percent, to 17,962 as of 10 a.m. Eastern. The Standard & Poor’s 500 index slid 16 points, or 0.8 percent, to 2,089. The Nasdaq composite lost 51 points, or 1 percent, to 4,942.

YOU’VE GOT A DEAL: Verizon agreed to buy Internet pioneer AOL for about $4.4 billion, a 15 percent premium to its closing price on Monday. Shares in AOL jumped 17.8 percent in early trading. The stock added $7.56 to $50.16. Verizon slipped 56 cents, or 1.1 percent, to $49.23.

SALE TALK: Shares in Pall vaulted 19.3 percent on a published report that the company is close to being acquired. The stock added $19.21 to $118.66.

WHIFFED: International Flavors & Fragrances fell 2.7 percent after the company warned that its earnings growth could be muted this year should the dollar’s strength continue to have a negative impact on sales. The stock slid $3.22 to $116.08.