Blue-chip stocks sagged in mid-morning trading today after pessimistic analyst calls on companies including conglomerate General Electric and on fears about the costly effects of a West Coast port lockout.
Persistent worries about corporate profit growth have extended a stock slump, bringing about the deepest bear market in more than 60 years.
Technology stocks were less affected by jitters, dancing on each side of the unchanged line as investors took advantage of recent declines to grab stocks at lower prices.
Networking equipment maker Cisco Systems was the most active stock, rising 4 per cent after falling for five straight sessions. Nine of the 10 most-active Nasdaq stocks were higher.
The Dow Jones industrial average was down 121.86 points, or 1.62 per cent, at 7,379.63. The broader Standard & Poor's 500 Index was down 11.37 points, or 1.42 percent, at 787.18.