US stocks were mixed yesterday as a report of continued growth in the manufacturing sector ignited fears of inflation and hurt blue-chip companies. But technology stocks, benefiting from a wave of new deals and products, rose. At the close of trading on Wall Street, the Dow Jones industrial average was down 84.85 points at 10,829.28, a decline of 0.8 per cent. Earlier in the session, the Dow was off as much as 132 points, a dip large enough to spur some buying by bargain hunters and computer traders, analysts said.
Broader stock indicators were mixed, with the technology-heavy Nasdaq composite index ending higher. The Standard and Poor's 500 index closed with a slight loss. The Standard and Poor's 500 fell 3.61 to 1,320.41, and the Nasdaq composite index rose 25.13 to 2,737.82.
Declining issues outnumbered advancers by a 5-to-4 margin on the New York Stock Exchange, with 1,671 down, 1,316 up and 582 unchanged.
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