NEW YORK -- The latest on developments in financial markets (all times local):
The market had been rallying early Tuesday until the Institute for Supply Management reported that the manufacturing sector reached its lowest level in more than a decade.
Industrial stocks fell hard. 3M gave back 3.7%.
TD Ameritrade plunged 25.8% after rival Charles Schwab eliminated commissions for online trading, escalating a price war. Schwab fell 9.7%.
The S&P 500 fell 36 points, or 1.2%, to 2,940.
The Dow Jones Industrial Average lost 343 points, or 1.3%, to 26,573. The Nasdaq fell 90 points, or 1.1%, to 7,908.
Bond prices jumped as investors sought out safer assets. The yield on the 10-year Treasury dropped to 1.64%.
The report from the Institute for Supply Management Tuesday fanned fears that the U.S.-China trade war is slowing down economic growth.
Charles Schwab plunged after eliminating commissions for online trading, escalating a price war with other online brokerages.
Rivals TD Ameritrade and ETrade Financial lost about a fifth of their value.
The S&P 500 fell 20 points, or 0.7%, to 2,955.
The Dow Jones Industrial Average lost 219 points, or 0.8%, to 26,694. The Nasdaq gave up 47 points, or 0.6%, to 7,952.
Bond prices jumped after the ISM report as investors sought out safe assets. The yield on the 10-year Treasury dropped to 1.62% from 1.73%, a big move.
Stocks are opening higher on Wall Street led by gains in technology and communications stocks.
Apple rose 1.3% and Amazon climbed 1% in the first few minutes of trading Tuesday.
Charles Schwab plunged 8.5% after the company said it was eliminating trading commissions on stocks, exchanged-traded funds and options.
Global markets were mixed after the World Trade Organization sharply cut its forecasts for trade growth this year and next.
The S&P 500 rose 13 points, or 0.4%, to 2,990.
The Dow Jones Industrial Average rose 111 points, or 0.4%, to 27,029. The Nasdaq rose 47 points, or 0.6%, to 8,047.
Bond prices fell. The yield on the 10-year Treasury rose to 1.73%.