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Technology firms, Cyprus worries push down stocks

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Technology firms, Cyprus worries push down stocks
Submitted by Fox First at Ten on March 21st

By The Associated Press

Stocks are falling on Wall Street as weak sales from Oracle and worries about Cyprus' ability to get a bailout weighed on the market.

The Dow Jones industrial average was down 33 points, or 0.2 percent, to 14,478 in midday trading Thursday.

The Standard & Poor's 500 index fell 4 points, or 0.3 percent, to 1,554. The Nasdaq composite index slipped 20 points, or 0.6 percent, to 3,233.

The European Central Bank has threatened to end emergency support of Cyprus' banks next week unless the nation can come up with a plan to avoid bankruptcy.

In the U.S., technology stocks dragged the indexes lower after Oracle reported an unexpected decline in sales in its fiscal third quarter.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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