Saturday, May 10, 2014

Stocks fall as tech sector continues to struggle

Stocks fell in morning trading Friday as the tech sector continues to come under pressure. The Nasdaq composite index is facing its fourth straight day of losses.

Investors were reacting to mixed first-quarter earnings reports and continued jitters over Ukraine.

The Dow Jones industrial average was down 0.2% to 16,513 and the Standard & Poor's 500 index dropped 0.4% to 1,868.

The Nasdaq fell 0.6% to 4,028. The tech-heavy index has dropped 77 points in the past three days.

NEW: USA TODAY's live markets blog

The yield on the 10-year Treasury note fell slightly to 2.61%, down from 2.62% Thursday.

European shares were lower amid renewed jitters about Ukraine. Pro-Russian militants are pressing ahead with plans for an independence referendum.

Britain's FTSE 100 and Germany's DAX were both down 0.4%. France's CAC-40 dropped 0.7%. I

In Asia, the Nikkei advanced in choppy trade. The index ended 0.3% higher at 14,199.59. In notable economic news out of China, inflation there eased in April to 1.8%.

Thursday, the Dow rose 32.43 points, or 0.2%, to 16,550.97 and S&P 500 index fell 2.58 points, or 0.1%, to 1,875.63. The Nasdaq fell 16.17 points, or 0.4%, to 4,051.50.

Contributing: The Associated Press

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