Stocks move slightly lower in midday trading on Wall Street; Etsy plunges after posting a loss

Published May 03, 2016

FILE - This Oct. 2, 2014 file photo shows the facade of the New York Stock Exchange, in New York. Stocks are opening mostly lower Wednesday, May 20, 2015, as traders look over some disappointing company results. (AP Photo/Richard Drew, File) (The Associated Press)

Stocks are edging mostly lower in midday trading as investors look over some disappointing company results.

The Dow Jones industrial average slipped 28 points, or 0.2 percent, to 18,283 as of 11:45 a.m. Eastern time Wednesday.

The Standard & Poor's 500 index gave up three points, or 0.2 percent, to 2,124. The Nasdaq composite declined six points, or 0.1 percent, to 5,063.

Etsy plunged 23 percent after reporting a big quarterly loss in its first quarter as a publicly traded company.

Staples fell 2 percent after posting a sharp drop in first-quarter earnings, and home improvement retailer Lowe's sank 5 percent after its income and revenue fell short of what analysts were looking for.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.26 percent.

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