US stocks move lower following drop in durable goods

U.S. stock indexes are moving lower, bringing the market further below record highs reached earlier this month.

Kraft soared 40 percent Wednesday after reaching a deal to be acquired by ketchup maker Heinz.

The Standard & Poor’s 500 fell 15 points, or 0.7 percent, to 2,076 as of 11:45 a.m. Eastern. The index is 2 percent below the all-time high it reached March 2.

The Dow Jones industrial average lost 170 points, or 1 percent, to 17,836. The Nasdaq slid 71 points, or 1.4 percent, to 4,923.

Eight of the 10 industry sectors in the S&P 500 index fell.

Traders were discouraged to see that orders for long-lasting manufactured goods fell in February for the third time in four months.

The yield on the 10-year Treasury rose to 1.89 percent.

This story was originally published March 25, 2015 at 11:13 AM with the headline "US stocks move lower following drop in durable goods."