US stocks fell with bonds yesterday as a wave of profit taking hit the markets for the second straight session, but recovered toward the close amid some bargain hunting.
On Wall Street, the Dow Jones industrial average dropped 19.75 points to close at 6,422.94, after rebounding from a 75 point deficit over the last hour.
Broader stock measures also recovered as the session wound down. The Nasdaq market snapped its streak of seven consecutive record closes as the high flying technology sector succumbed to the selling pressure.
Declining issues outnumbered advancers by more than a 4 to 3 margin on the New York Stock Exchange, with 1,076 up, 1,458 down and 779 unchanged.
NYSE volume totalled 493.70 million shares, against 515.66 million in the previous session.
The Standard and Poor's 500 stock index fell 3.18 to 745.10, and the NYSE's composite index fell 1.62 to 393.23.
The Nasdaq composite index fell 3.35 to 1,297.02, and the American Stock Exchange's market value index fell 3.19 to 588.99.
