Stocks end lower on Wall Street

Friday, September 30, 2016, Vol. 40, No. 40

NEW YORK (AP) — Stocks ended lower on Wall Street, by declines in real estate companies and utilities.

Federal Realty Investment trust lost almost 4 percent Monday, one of the biggest declines in the Standard & Poor's 500 index.

Merrimack Pharmaceuticals, which develops cancer drugs, slumped 5 percent after announcing that it would cut almost a quarter of its workforce and would look for a new CEO.

Janus Capital surged 12 percent after announcing it is merging with another investment company.

The Dow Jones industrial average fell 54 points, or 0.3 percent, to 18,253.

The S&P 500 index lost 7 points, or 0.3 percent, to 2,161. The Nasdaq composite declined 11 points, or 0.4 percent, to 5,300.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.62 percent.