NEW YORK — U.S. stocks are moving lower in midday trading as the market pulls back from record highs reached earlier this week.
The drop Wednesday was modest but broad: nine of the 10 sectors in the Standard & Poor's 500 lost ground.
The Standard & Poor's 500 index was down 12 points, or 0.6 percent, to 2,096 as of 11:45 a.m. Eastern time.
The Dow Jones industrial average lost 109 points, or 0.6 percent, to 18,093. The Nasdaq composite fell 18 points, or 0.4 percent, to 4,961.
Aluminum maker Alcoa sank 5 percent, the most in the S&P 500.
Abercrombie & Fitch lost 13 percent after its revenue came up short of what investors were looking for.
Oil fell 69 cents to $49.82 a barrel in New York.
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