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Falling tech stocks pull down S&P 500 and Nasdaq, but Dow sets another record

Falling tech stocks pull down S&P 500 and Nasdaq, but Dow sets another record

U.S. stock indexes pulled back from their record highs Thursday after an afternoon swoon for technology companies helped overshadow another big day for telecoms.

The Standard & Poor's 500 index fell 2.41 points, or 0.1%, from the record it had set Wednesday, closing at 2,475.42. The Nasdaq composite likewise fell from a record, down 40.56 points, or 0.6%, to 6,382.19. The Dow Jones industrial average was an exception; it rose 85.54 points, or 0.4%, to 21,796.55, a new all-time high.

Stocks had been on track for another quiet day of gains in a year full of them, but Apple, Microsoft and other tech stocks suddenly changed direction in the afternoon. After being up as much as...

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