Most of Wall Street stumbled Thursday, but yet another rise for big technology stocks helped keep the market’s losses in check.
Nearly three out of four stocks fell in the S&P 500. Among the hardest-hit were oil producers, banks and other companies that most need the economy to pull out of its recession.
But the index erased most of an earlier of loss of 1.7%. Stronger-than-expected profit reports from UPS and other companies helped. So did steadying prices for Amazon and other big tech-oriented stocks, which reported their own results after the day’s trading ended.
The S&P 500 dropped 12.22 points, or 0.4%, to 3,246.22.