The Associated Press

The U.S. stock market is slipping after an early rise brought on reports of a cease-fire agreement in Ukraine.

The Standard & Poor’s 500 eased one point, or less than 0.1 percent, to 2,000 in midday trading Wednesday. The Nasdaq fell 25 points, or 0.6 percent, to 4,572. The Dow Jones industrial average rose 20 points, or 0.1 percent, to 17,087.

The S&P 500 was up as much as seven points earlier after news that Russian President Vladimir Putin issued a peace plan for eastern Ukraine.

European and Russian stocks rose on the news. Russia’s MICEX benchmark index was up 3.5 percent. Germany’s DAX index, which is sensitive to the crisis because of the country’s economic ties with Russia, jumped 1.3 percent.

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