NEW YORK -- Wall Street wrapped up a week of losses in indecisive trading today, as the impact of Asian economic troubles continued to worry investors. Dow slips 10.69
The Dow Jones industrial average closed down 10.69 points at 7,838.30.
Trading seesawed throughout the day, with the index of blue chip stocks rising as much as 55 points and falling as much as 64 points before closing more than 310 points, or 3.8 percent, short of last Friday's close.
Advancers led advancers by a narrow margin on the New York Stock Exchange, with 1,479 up, 1,440 down and 526 unchanged. NYSE volume 572.73 million shares vs. 623.21 million yesterday.
The Standard & Poor's 500-stock list fell 1.55 to 953.39, and the NYSE composite index was dipped 0.42 to 500.00. The technology-laden Nasdaq composite index dropped more decisively, down 21.96 to 1,536.58, a 1.4 percent drop. The American Stock Exchange composite index nosed up 1.45 above to close at 665.90. The Russell 2000 index dropped 2.07 points to 422.63.
Reports continued to emerge of companies facing trouble selling in Asia, leading investors to continue the week-long selloff of technology issues amid fears the Asian flu is spreading.
Many investors fled stocks that have taken a battering over the week in favor of bonds, driving the yield on the 30-year bond to its lowest level since Oct. 93.
The price of the Treasury's main 30-year bond was up 7/8 point, or $8.75 per $1,000 in face value, in lat afternoon trading, while its yield fell to 5.93 percent from 5.99 percent late yesterday. Prices and yields move in opposite directions.