NEW YORK, Oct. 16 (UPI) -- A two-day rally in U.S. markets stalled Friday after blue-chip Dow Jones components IBM and General Electric posted quarterly reports.
International Business Machines raised its annual earnings forecast, but its stock dropped shares 5 percent on concerns of corporate technology spending, The Wall Street Journal reported. GE shares fell 3 percent as third-quarter revenue failed to meet expectations.
At the close, the Dow Jones industrial average lost 0.67 percent, 67.03 points, to 9,995.91. The Standard & Poor's 500 lost 0.81 percent, 8.88 points, to 1,087.68. The Nasdaq composite index fell 0.76 percent, 16.49 points, to 2,156.80.
On the New York Stock Exchange, 1,041 stocks advanced and 1,962 declined on a volume of 1.38 billion shares traded.
The benchmark 10-year Treasury rose 10/32 to yield 3.428 percent.
The euro fell to $1.4888 from Thursday's $1.4937. Against the yen, the dollar rose to 90.83 yen from Thursday's 90.60 yen.
In Tokyo, the Nikkei 225 average added 18.91 points, 0.18 percent, to 10,257.56.
In London, the FTSE 100 lose 0.63 percent, 32.17, to 5,190.24.
