Summary Box: JPMorgan earnings sink banks, market

AP News
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Posted: Oct 13, 2011 4:54 PM
Summary Box: JPMorgan earnings sink banks, market

BANKS SINK: Bank stocks dragged the market lower after JPMorgan Chase & Co. reported that a slowdown in investment banking hurt its results in the third quarter.

TECH STOCKS STRONG: An afternoon rally in technology stocks trimmed some of the market's losses. Yahoo Inc. rose 1 percent as investors speculated the company might be bought. Google Inc. soared 6 percent in after-hours trading after reporting earnings that blew past analysts' forecasts.

THE INDEXES: The Dow Jones industrial average fell 0.4 percent to 11,478. The Standard & Poor's 500 index fell 0.3 percent to 1,203. The technology-focused Nasdaq composite rose 0.6 percent to 2,620.