US stocks pull back from record levels in early trade; Krispy Kreme Doughnuts slumps

The Associated Press

FILE - This Aug. 9, 2011 photo shows a Wall Street street sign near the New York Stock Exchange, in New York. U.S. stock futures are heading lower in early trading Tuesday, June 3, 2014, a day after major indexes reached new highs. (AP Photo/Mark Lennihan, File)

Associated Press + More

NEW YORK (AP) — U.S. stocks are pulling back from record levels in early trading.

Krispy Kreme Doughnuts slumped 14 percent after the company cut its forecast for earnings this year, citing higher costs and fewer sales than previously estimated.

The Standard & Poor's 500 index fell three points, or 0.2 percent, to 1,921 in the first few minutes of trading Tuesday.

The Dow Jones industrial average lost 44 points, or 0.3 percent, to 16,698. Visa fell the most in the Dow.

The Nasdaq composite fell seven points, or 0.2 percent, to 4,230.

On Monday, both the Dow Jones industrial average and Standard & Poor's 500 index set record highs for the second straight trading day.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.56 percent.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.