Markets Right Now: US stocks waver in early trading

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

Stocks are treading water in early trading as gains in high-dividend stocks are outweighed by drops in banks and other sectors.

Sears Holdings plunged 9 percent in early trading Wednesday after the struggling retailer said it was doubtful it would be able to keep operating.

Nike dropped 6 percent after issuing a weak forecast.

The market is coming off its biggest drop so far this year.

The Standard & Poor’s 500 index slipped 1 point to 2,342.

The Dow Jones industrial average fell 36 points, or 0.2 percent, to 20,632. The Nasdaq composite edged up 5 points, or 0.1 percent, to 5,799.

Small-company stocks fell more than the rest of the market.

More stocks fell than rose on the New York Stock Exchange.