Most of Wall Street stumbled Thursday, but yet another rise for big technology stocks helped keep the market’s losses in check.
Nearly three out of four stocks fell in the S&P 500. Among the hardest-hit were oil producers, banks and other companies that most need the economy to pull out of its recession.
But the index erased most of an earlier of loss of 1.7%. Stronger-than-expected profit reports from UPS and other companies helped. So did steadying prices for Amazon and other big tech-oriented stocks, which reported their own results after the day’s trading ended.
The S&P 500 dropped 12.22 points, or 0.4%, to 3,246.22.
The Dow Jones Industrial Average lost 225.92 points, or 0.9%, to 26,313.65.
The Nasdaq composite added 44.87, or 0.4%, to 10,587.81.
The Russell 2000 index of small company stocks fell 5.53, or 0.4%, to 1,495.10.
For the week:
The S&P 500 is up 30.59 points, or 1%.
The Dow is down 156.24 points, or 0.6%.
The Nasdaq is up 224.64 points, or 2.2%
The Russell 2000 is up 27.55 points, or 1.9%.
For the year:
The S&P 500 is up 15.44 points, 0.5%.
The Dow is down 2,224.79 points, or 7.8%.
The Nasdaq is up 1,615.21 points, or 18%.
The Russell 2000 is down 173.37 points, or 10.4%.