ECONOMY

US stocks sink in midday trading; BofA and Citigroup fall after reporting weak results

FILE - This Oct. 8. 2014 photo shows a Wall Street address carved into the side of a building in New York. Stocks are wavering in early trading Thursday, Jan. 15, 2015, as investors weigh some positive economic news against several disappointing reports from U.S. companies. (AP Photo/Mark Lennihan, File)

FILE - This Oct. 8. 2014 photo shows a Wall Street address carved into the side of a building in New York. Stocks are wavering in early trading Thursday, Jan. 15, 2015, as investors weigh some positive economic news against several disappointing reports from U.S. companies. (AP Photo/Mark Lennihan, File)  (The Associated Press)

Stocks are falling in midday trading following disappointing results from Bank of America, Citigroup and other companies.

Radio Shack plunged 24 percent Thursday following a report that the struggling electronics retailer could file for bankruptcy. Target rose 2 percent after the company said it would close its stores in Canada.

The Swiss franc soared after the country's central bank abandoned an increasingly expensive policy to limit the currency's rise.

The Dow Jones industrial average fell 54 points, or 0.3 percent, to 17,372 as of 11:45 a.m. Eastern time.

The Standard & Poor's 500 index fell four points, 0.2 percent, to 2,007. The Nasdaq composite fell 10 points, or 0.2 percent, to 4,629.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.79 percent from 1.86 percent.