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Markets Right Now: Stocks slide, led by energy companies

The latest on developments in financial markets (All times local):

4:00 p.m.

Energy stocks led a broad decline on Wall Street, giving the market its third loss in a row.

Financial stocks also dropped Thursday. Wells Fargo gave up 3.3 percent after Warren Buffett’s Berkshire Hathaway said it was selling some of its stake for regulatory reasons.

Pier 1 Imports plunged 9 percent after reporting disappointing sales.

The Standard & Poor’s 500 index fell 15 points, or 0.7 percent, to 2,328.

The Dow Jones industrial average lost 138 points, or 0.7 percent, to 20,453. The Nasdaq composite gave up 31 points, or 0.5 percent, to 5,805.

Small-company stocks fell more than the rest of the market. The Russell 2000 index lost 13 points, or 1 percent, to 1,345.

U.S. markets will be closed Friday for the Good Friday holiday.

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11:45 a.m.

U.S. stock indexes are wavering between small gains and losses in midday trading as investors size up earnings from several major banks and new economic data.

Technology stocks led the gainers Thursday, while energy companies were down the most.

Microsoft rose 0.6 percent, while Exxon Mobil fell 0.9 percent.

Citigroup and JPMorgan Chase rose after reporting solid earnings.

Pier 1 Imports plunged 10 percent after reporting disappointing sales.

The Standard & Poor’s 500 index rose 1 point to 2,346.

The Dow Jones industrial average was little changed at 20,591. The Nasdaq composite rose 12 points, or 0.2 percent, to 5,849.

More stocks fell than rose on the New York Stock Exchange.

Trading was light. U.S. markets will be closed Friday for the Good Friday holiday.

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9:35 a.m.

Stocks are opening modestly lower on Wall Street, led by declines in banks and energy companies.

Wells Fargo sank 2.5 percent early Thursday, despite a solid earnings report, following news that Warren Buffett’s Berkshire Hathaway is selling some of its stake in the bank to avoid coming under additional regulatory scrutiny.

Pier 1 Imports dropped 8.6 percent after reporting disappointing sales.

The Standard & Poor’s 500 index fell 3 points, or 0.1 percent, to 2,341.

The Dow Jones industrial average lost 31 points, or 0.1 percent, to 20,566. The Nasdaq composite declined 4 points, or 0.1 percent, to 5,831.

U.S. markets will be closed Friday for the Good Friday holiday.

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