NEW YORK >> Stock prices dipped lower today on a profit warning from Microsoft, which heightened investors' fears that an economic turnaround won't happen soon. Microsoft warning
sparks fallBy Amy Baldwin
Associated PressThe Dow Jones industrial average ended down 33.35 at 10,576.65, according to preliminary calculations. Microsoft, which blamed its pessimistic outlook on slumping PC sales, led the way, dropping $3.39 to $69.18.
The market's broader indicators were also lower. The tech-laden Nasdaq composite index fell 17.22 to 2,029.37, and the Standard & Poor's 500 index slipped 4.17 to 1,210.85.
Volume came to 1.33 billion shares. Another sign of relative strength was that more stocks posted gains than losses today on the New York Stock Exchange where advancing issues narrrowly outnumbered decliners 15 to 14, with 1,572 stocks climbing, 1,487 slipping and 216 unchanged.
The Russell 2000 index, which measures the performance of smaller company stocks, inched up 0.39 to 487.93. The NYSE composite index fell 0.75 to 616.69. The American Stock Exchange composite index jumped 6.26 to 897.32
The price of the Treasury's 10-year note fell 6/32 to 99 1/32, while its yield rose 3 basis points to 5,129. The price of the 30-year note fell 9/32 to 97 17/32, and its yield rose 2 basis points to 5.546.