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Stocks decline broadly in early trading in US

FILE - In this Oct. 2, 2014, file photo, Wall Street is etched in the facade of a building in New York's Financial District. Stocks are opening broadly lower Wednesday, March 23, 2016, led by declines in mining companies as prices for metals and other commodities weaken. Several companies were also moving lower Wednesday after reporting disappointing results or outlook. (AP Photo/Richard Drew, File) FILE - In this Oct. 2, 2014, file photo, Wall Street is etched in the facade of a building in New York's Financial District. Stocks are opening broadly lower Wednesday, March 23, 2016, led by declines in mining companies as prices for metals and other commodities weaken. Several companies were also moving lower Wednesday after reporting disappointing results or outlook. (AP Photo/Richard Drew, File)

By Associated Press March 23, 2016 2 min read

U.S. stocks edged broadly lower in early trading Wednesday as lower prices for oil and metals weighed on mining and energy companies. Investors were poring over the latest batch of company earnings news, including disappointing results from Nike.

KEEPING SCORE: The Dow Jones industrial average fell 18 points, or 0.1 percent, to 17,564 as of 10:16 a.m. Eastern Time. The Standard & Poor’s 500 index lost four points, or 0.2 percent, to 2,044. The Nasdaq composite dropped 3423oints, or 0.5 percent, to 4,797.

MINE THIS: Some mining companies were down as metals prices headed lower. Newmont Mining fell $1.85, or 6.8 percent, to $25.54, while Freeport-McMoRan lost 66 cents, or 6 percent, to $10.33.

NOT DOING IT: Nike, one of the 30 stocks in the Dow Jones industrial average, slid 4.3 percent after reporting revenue that fell far short of what analysts were expecting and a disappointing outlook for 2016. The athletic apparel maker fell $2.77 to $62.11.

BUGGED: Red Hat slid 3.6 percent after the software maker delivered disappointing forecasts. The stock fell $2.72 to $72.99.

PHARMA SUIT: Gilead Sciences fell 2.7 percent after a federal jury in California ruled in favor of rival Merck & Co. in a high-stakes lawsuit over patents for lucrative new drugs that rapidly cure hepatitis C. Gilead shed $2.53 to $91.19. Merck added 30 cents to $53.33.

OVERSEAS: European stocks were mixed following Tuesday’s deadly bombings in Belgium. Germany’s DAX was up 0.3 percent, while France’s CAC 40 was down 0.2 percent. Britain’s FTSE 100 was flat. Belgium’s main index was up 0.3 percent. In Asia, markets mostly fell moderately. Japan’s benchmark Nikkei 225 fell 0.3 percent. South Korea’s Kospi edged 0.1 percent lower. Hong Kong’s Hang Seng fell 0.3 percent. Australia’s S&P/ASX 200 lost 0.5 percent.

ENERGY: Benchmark U.S. crude was down $1, or 2.4 percent, to $40.45 a barrel in New York. Brent crude, the benchmark for international oils, was down 78 cents, or 1.9 percent, to $41.01 a barrel in London.

BONDS AND CURRENCIES: Bond prices rose. The yield on the 10-year Treasury note fell to 1.92 percent from 1.94 percent late Tuesday. The euro fell slightly to $1.1172 from $ $1.1216, while the dollar rose to 112.81 yen from 112.33 yen.