Stocks move lower on discouraging news from Asia

The Associated Press
Stocks end slightly lower on China growth worries

FILE - In this Friday, Feb. 21, 2014, file photo, trader Gregory Rowe, center, works at the post of specialist Joseph Mastrolia, left, on the floor of the New York Stock Exchange. The mood in financial markets steadied Monday, March 10, 2014, despite earlier big losses in Asia following disappointing Chinese and Japanese economic data. (AP Photo/Richard Drew, File)

U.S. stocks are moving lower in midday trading following disappointing economic news from China and Japan.

The Standard & Poor's 500 index fell five points, or 0.3 percent, to 1,872 as of noon Eastern time Monday.

The Dow Jones industrial average lost 76 points, or 0.5 percent, to 16,375. The Nasdaq composite fell 11 points, or 0.3 percent, to 4,324.

Investors were discouraged by an 18 percent slump in Chinese exports last month, the latest sign of trouble for the world's second-largest economy. Japan lowered its estimate for fourth-quarter economic growth.

In the U.S., Chiquita Brands jumped 12 percent after announcing it had agreed to combine with an Irish fruit supply company.

In bond trading, the yield on the 10-year Treasury note held steady at 2.79 percent.