US STOCKS-Wall Street falls as technology stocks drag

Fri Jun 28, 2013 10:21am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* Blackberry slumps after results

* Molycorp climbs after SEC investigation

* Accenture tumbles after earnings, outlook

* Indexes off: Dow 0.79 pct, S&P 0.62 pct, Nasdaq 0.43 pct

By Chuck Mikolajczak

NEW YORK, June 28 (Reuters) - U.S. stocks opened lower on Friday, as weakness in technology shares outweighed gains in other shares spurred by relief a premature pullback of central bank stimulus measures was unlikely.

The S&P 500 had risen 2.6 percent over the prior three sessions as economic data and comments from U.S. Federal Reserve officials soothed worries over an earlier-than-expected reining in of stimulative bond purchases by the Fed.

The benchmark S&P index had lost as much as 4.8 percent in the days following a June 19 statement from the U.S. Federal Reserve, when Chairman Ben Bernanke said the Fed could start slowing its bond purchases later this year if growth was strong enough.

Technology shares weighed on the market early on Friday. The S&P technology index fell 1.2 percent as the worst performing S&P sector.   Continued...