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Home / Business

Tech slump pulls US stock market mostly lower

AP
19 Jul, 2013 08:23 PMQuick Read

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NEW YORK (AP) Technology stocks are slumping on Wall Street after weak results from Microsoft of Google, but the rest of the market is closing out a decent week.

The Standard & Poor's 500 managed a small gain, enough for the index to set another record high.

The S&P edged up two points, or 0.2 percent, to 1,692. It rose 0.7 percent for the week.

The Dow Jones industrial average slipped five points, 0.03 percent, to 15,543, held back by losses in Microsoft and IBM.

The Nasdaq fell 23 points, 0.7 percent, to 3,587. The Nasdaq was the only major index to lose ground for the week.

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Microsoft plunged 11 percent after writing off $900 million on its tablet computer.

Slightly more stocks rose than fell on the New York Stock Exchange.

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Banking and finance

Wall Street ambles to new record overnight

22 Jul 07:30 PM
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