Dow Off 5 as Technology Issues Stumble
NEW YORK, Dec. 9ÛÓA sharp drop in technology stocks soured Wall Street sentiment today, sending the stock market lower and ending blue-chip issuesÛª two-session record run.</br></br>The Dow Jones industrial average dropped 4.75 points, to 3729.78. The average had reached a new high of 3734.53 Wednesday after another record on Tuesday. Declining issues outnumbered advancing ones by about 4 to 3 on the New York Stock Exchange, where volume fell to 283.15 million shares from 312.5 million.</br></br>Technology stocks were undercut by a report showing weakness in semiconductor demand in November. The technology-laden Nasdaq index was down 6.40 points at 761.49.</br></br>Analysts said the downdraft in technology issues gave investors a reason to take profits after the DowÛªs recent strength. "Any time you get a marketleading group like that getting it on the chin as hard as they are, people are going to get a little nervous," said Tony Dwyer, chief market strategist at Sherwood Research.</br></br>60ya. The selling spread to other technology issues, including Dow component IBM, which shed % to 53%.