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Dow falls 46.8;
Associated Press
Nasdaq at recordNEW YORK -- Technology stocks soared higher today, carrying the Nasdaq composite index past 4,500 for the first time, as the sector was untouched by a warning of higher interest rates from Federal Reserve Chairman Alan Greenspan.
Blue chips, more vulnerable to interest rate concerns, closed lower, leaving the overall market mixed.
The Dow Jones industrial average, off more than 100 points in earlier trading, finished down 46.84 at 10,514.57.
The Nasdaq composite ended up 121.22 at 4,548.87, surpassing its previous record close of 4,485.63 from last week. The S&P 500 index rose 0.58 to 1,388.25. The Russell 2000 index, reflecting the performance of smaller-company stocks including many high-tech issues, rose 10.66 to 558.42, setting a closing record for a second straight day.
Decliners beat advancers by a narrow margin on the New York Stock Exchange, with 1,447 up, 1,561 down and 504 unchanged. NYSE volume totaled 1.03 billion shares, down from yesterday's 1.04 billion.
The NYSE composite fell 3.71 to end at 601.26 while the American Stock Exchange composite rose 35.21 to 937.46.
The 30-year Treasury bond rose 19/32 or $5.94 per $1,000 face amount; its yield fell to 6.22 percent from 6.26 percent yesterday. Bond prices were bolstered by a Labor Department report showing unchanged producer prices last month and an unexpected drop in prices excluding food and energy.