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Weakness in tech stocks pushes US indexes lower

March 27, 2014

NEW YORK (AP) — More weakness in the technology sector is sending the stock market lower.

GameStop fell 4 percent after reporting lower sales and income than investors were expecting. GameStop will also close 2 percent of its stores.

“Candy Crush Saga” maker King Digital fell 3 percent on its second day as a publicly traded company, and Google fell 2 percent.

The Standard & Poor’s 500 index fell three points, or 0.2 percent, to close at 1,849 Thursday.

The Dow Jones industrial average lost four points, or 0.2 percent, to 16,264. The tech-heavy Nasdaq composite lost 22 points, or 0.5 percent, to 4,151.

Citigroup fell 5 percent after the Federal Reserve denied the bank’s plan to raise its dividend.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.68 percent.

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