Technology stocks were bloodied again and reached new lows for the year as more evidence of a cooling US economy reignited worries about dwindling corporate earnings.

Blue chips, meanwhile, reversed early gains to finish slightly lower. Wall Street's former high-tech fliers, like Web infrastructure firm Juniper Networks and computing giant Sun Microsystems again bore the brunt of the selling.

"Here's the problem: too many companies that have reported good earnings have warned of revenue growth slowing in the quarter ahead," said Paul Cherney, S&P Marketscope analyst.