Blue-Chip stocks closed lower yesterday, weighed down by corporate warnings that a strong dollar and high oil prices will eat into the profits of big US multinational companies.

The Dow Jones Industrial Average fell 94.71 points, or 0.85 per cent, to 11,087.47, while the broader Standard & Poor's 500 Index was off 4.04 points, or 0.27 per cent, at 1,480.87.

But technology stocks eked out gains after a broad rally fuelled by bets that software giant Oracle Corp would post upbeat results. The company after the close beat profit expectations by a large margin.

The technology-laced Nasdaq Composite Index closed up 19.97 points, or 0.51 per cent, at 3,913.86, adding to Wednesday's rebound from the early September slump.