AP Business Writer
NEW YORK (AP) — Most of Wall Street stumbled Thursday, but yet another rise for big technology stocks helped keep the market's losses in check.
The S&P 500 dropped 12.22 points, or 0.4%, to 3,246.22, with nearly three out of four stocks in the index falling. Among the hardest-hit were oil producers, banks and other companies that most need the economy to pull out of its recession. Treasury yields also sank in a sign of increased pessimism about the economy.
The Dow Jones Industrial Average lost 225.92 points, or 0.9%, to 26,313.65. Earlier in the morning, though, the market had seemed set for a much steeper fall. The Dow was down as many as 547 points, while the S&P 500 tumbled 1.7% within the first hour of trading.