U.S. stocks declined in early trading Tuesday as investors returned from the Labor Day holiday weekend. Banks and technology companies were down more than the rest of the market. Energy companies led the gainers as the price of crude oil headed higher.
KEEPING SCORE: The Standard & Poor’s 500 index fell 6 points, or 0.3 percent, to 2,470 as of 10:12 a.m. Eastern time. The Dow Jones industrial average slid 96 points, or 0.4 percent, to 21,890. The Nasdaq composite lost 13 points, or 0.2 percent, to 6,421. The Russell 2000 index of smaller-company stocks added less than 1 point to 1,414. Stocks were coming off back-to-back weekly gains.
BANKING SLUMP: Financial sector companies were down the most. XL Group slid $1.84, or 4.5 percent, to $38.78, while Brighthouse Financial lost $2.23, or 3.9 percent, to $55.26. Goldman Sachs gave up $5.89, or 2.6 percent, to $219.99.
TECH SLIDE: Traders also sold off technology shares. Nvidia fell $2.59, or 1.5 percent, to $167.87, while Applied Materials shed 43 cents, or 1 percent, to $44.67.
ENERGIZED: Gains in crude prices helped lift shares in oil producers and other energy industry companies. Baker Hughes gained $1.10, or 3.2 percent, to $35.40. Halliburton rose 85 cents, or 2.2 percent, to $39.75.