US blue chips posted their fifth-consecutive loss yesterday as technology stocks extended their downturn on further nervousness over the impact of Asia's financial crisis on US companies.
The Dow ended off 10.69 points, or 0.14 per cent, at 7838.30, according to unofficial early data. For the week it shed 311 points, or 3.81 per cent.
Investors continued to bruise high technology stocks amid fears their sales and earnings are particularly vulnerable to a slowdown in Asian economies.
The Nasdaq composite finished off 21.89 points to 1536.65. For the week, the tech-studded index fell 5.95 per cent.
Traders and analysts said US investors were unwilling to build on a rally yesterday morning, which had the Dow up 56 points, because of the uncertainty in Asia.
"Until we get some clarification of exactly what is going on in Asia...the market's going to be nervous," said Peter Coolidge, senior equity trader at Brean Murray & Co.
