Dow Takes A Dip; Tech Stocks Rally
Blue chips fell sharply Thursday on profit-taking and concerns about the drop in the euro currency, but technology stocks moved higher for a second straight session on upbeat speculation about corporate earnings.
The Dow Jones industrial average closed down 94.71 at 11,087.47.
Broader indicators were mixed. The Nasdaq composite index rose 19.97 to 3,913.86 but the Standard & Poor’s 500 index fell 4.04 to 1,480.87.
It was the second day of a small tech-stock rally, which began Wednesday with a 44-point gain in the Nasdaq. The index rose nearly 100 points during Thursday’s trading, but couldn’t hold the gains.