US stock indexes move lower in midday trading, continuing a slump from day before

Trader Frederick Reimer works on the floor of the New York Stock Exchange, Wednesday, April 1, 2015. U.S. stocks moved lower in early trading Wednesday, extending losses from the day before. A report indicating that U.S. businesses slowed their pace of hiring last month weighed on the market. (AP Photo/Richard Drew) (The Associated Press)

Trader John Panin works on the floor of the New York Stock Exchange, Wednesday, April 1, 2015. U.S. stocks moved lower in early trading Wednesday, extending losses from the day before. A report indicating that U.S. businesses slowed their pace of hiring last month weighed on the market. (AP Photo/Richard Drew) (The Associated Press)

NEW YORK – U.S. stocks are slipping in midday trading, continuing a downward trajectory from the day before.

The Dow Jones industrial average fell 78 points, or 0.4 percent, to 17,698 as of 11:45 a.m. Eastern time Wednesday. The Dow slumped 200 points on Tuesday.

The Standard & Poor's 500 index lost seven points, or 0.4 percent, to 2,060. The Nasdaq composite declined 25 points, or 0.5 percent, to 4,875.

European markets rose after an encouraging report that factory output in the region was at a 10-month high in March.

The price of oil rose $1.94 to $49.55 a barrel in New York.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.87 percent.