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Markets Right Now: Tech stocks pull US market indexes lower

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May. 17, 2018 9:43 AM EDT

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NEW YORK (AP) — The latest on developments in financial markets (all times local):

9:35 a.m.

Stocks are slightly lower in morning trading as losses for Cisco Systems weigh on technology companies.

Cisco, which sells routers, switches and software, lost 3.9 percent Thursday morning after releasing its latest quarterly results.

Walmart edged up 0.5 percent after its first-quarter profit and revenue surpassed analyst estimates.

Wells Fargo fell 1.2 percent after the Wall Street Journal reported that some employees in its business banking division improperly altered information on documents related to corporate customers.

The S&P 500 index lost 3 points, or 0.1 percent, to 2,718.

The Dow Jones industrial average shed 47 points, or 0.2 percent, to 24,721. The Nasdaq composite dipped 10 points, or 0.1 percent, to 7,388.

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