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Stocks slide in early trading on Wall Street

June 28, 2012|By Andrew Tangel
  • Stocks slid in early trading on Wall Street.
Stocks slid in early trading on Wall Street. (Stan Honda / AFP )

NEW YORK -- Stocks continued their slide in early trading on a Wall Street as the public digested the U.S. Supreme Court's ruling on President Obama's healthcare law.

The Dow Jones industrial average was down 88 points, or 0.7%, to 12,536 shortly after the opening bell. The Dow hasn't budged since the high court released its highly anticipated ruling.

The broader Standard & Poor's 500 index was down 8 points, or 0.6%, to 1,324. The Nasdaq was down 23 points, or 0.8%, to 2,852.

Investors were also weighing a New York Times report that JPMorgan Chase & Co.'s losses from risky derivatives trades could reach as high as $9 billion.That would be far higher than the $2 billion in losses already disclosed by the bank.

JPMorgan's stock lost 96 cents, or 2.6%, to $35.82 in early trading.

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