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VOL. 41 | NO. 47 | Friday, November 24, 2017

Steep tech drop pulls stocks mostly lower

The Associated Press

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A steep drop in technology companies pulled major U.S. stock indexes mostly lower, offsetting gains in other sectors.

Several big names in the tech sector fell Wednesday. Micron slumped 8.7 percent. Tech remains the biggest winner on the market this year, up 35 percent.

Bond yields rose following a strong report on third-quarter economic growth in the U.S. That helped banks because they can charge higher interest rates on loans.

Bank of America climbed 2.3 percent.

The Standard & Poor's 500 index fell almost 1 point, less than 0.1 percent, to 2,626.

The Dow Jones industrial average gained 103 points, or 0.4 percent, to 23,940, another record. Almost half of that gain was attributable to UnitedHealth.

The Nasdaq composite dropped 88 points, or 1.3 percent, to 6,824.