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

4:00 p.m.

Banks are leading major U.S. stock indexes mostly lower as bond yields slide.

Wells Fargo slumped 1.6 percent Thursday and Bank of America gave back 1.2 percent.

Department stores and mall operators took steep losses after Kohl's and Macy's reported weak holiday-season results and cut their profit forecasts. Kohl's plunged 19 percent and Macy's lost 14 percent.

The Dow Jones industrial average fell 42 points, or 0.2 percent, to close at 19,899. It had been down as much as 131 points earlier.

The Standard & Poor's 500 index lost 1 point, or 0.1 percent, to 2,269. The Nasdaq composite edged up 10 points, or 0.2 percent, to 5,487.

Bond prices rose sharply. The yield on the 10-year Treasury note fell to 2.36 percent.

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11:45 a.m.

Stocks are taking a downward turn in midday trading, led by steep declines in banks as interest rates fall.

Wells Fargo slumped 2.6 percent Thursday and Bank of America gave back 2.3 percent.

Banks fell the most in the Standard & Poor's 500 index as bond yields moved lower. Lower interest rates make it harder for banks to make money from lending.

Several retailers were also taking sharp losses. Kohl's plunged 20 percent and Macy's dropped 14 percent. Both reported weak holiday sales and cut their profit forecasts.

The Dow Jones industrial average fell 115 points, or 0.6 percent, to 19,817.

The Standard & Poor's 500 index lost 9 points, or 0.4 percent, to 2,261. The Nasdaq composite declined 9 points, or 0.2 percent, to 5,468.

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9:35 a.m.

Stocks are opening mostly lower on Wall Street after several retailers reported weak holiday sales and cut their profit forecasts.

Kohl's plunged 18 percent in early trading Thursday, and Macy's dropped 14 percent. Both reported weak sales during the holiday season. Macy's said it would cut 10,000 jobs.

The Dow Jones industrial average gave up 21 points, or 0.1 percent, to 19,922.

The Standard & Poor's 500 gained fell 2 points, or 0.1 percent, to 2,268. The Nasdaq composite edged up 7 points, or 0.2 percent, to 5,484.