Tech Leads Stocks Down

(AP) -- Technology companies led a slide in U.S. stocks Thursday as the market pulled back from its latest record highs. Cruise lines, fast-food restaurants and other consumer-focused companies also declined. Health care stocks were among the big gainers. Investors were poring over the latest batch of company earnings. Crude oil prices fell.

KEEPING SCORE: The Standard & Poor's 500 index fell 5 points, or 0.2 percent, to 2,556 as of 11:22 a.m. Eastern time. The Dow Jones industrial average lost 45 points, or 0.2 percent, to 23,112. The Nasdaq composite slid 35 points, or 0.5 percent, to 6,588. The Russell 2000 index of smaller-company stocks gave up 7 points, or 0.5 percent, to 1,497. The major stock indexes were coming off record highs on Wednesday.

TECHNOLOGY SLUMP: Declines in Apple, Facebook and other big technology companies weighed on the sector. Apple gave up $3.99, or 2.5 percent, to $155.77, while Facebook lost $1.81, or 1 percent, to $174.25. Google's parent company, Alphabet, slid $9.39, or 0.9 percent, to $1,003.35.

UNREWARDED: Alliance Data Systems fell 2 percent after the manager of retailer loyalty and rewards programs said its latest quarterly revenue fell short of expectations. The stock shed $4.57 to $222.81.

ROUGH SEAS: Cruise line operators were among the biggest decliners. Norwegian Cruise Line was down $2.63, or 4.6 percent, at $54.84. Carnival lost $1.59, or 2.4 percent, to $65.87. Royal Caribbean fell $3.28, or 2.6 percent, to $121.60.

GENUINE DISAPPOINTMENT: Auto parts retailer Genuine Parts slumped 8.2 percent after the company said costs rose and its quarterly profit fell short of Wall Street's estimates. The stock fell $8.03 to $90.01.

HITTING TURBULENCE: Textron slid 3 percent after the Cessna aircraft and Bell helicopter maker said revenue from its aviation business declined last year as deliveries fell. The company also lowered the high end of its profit forecast. The stock lost $1.60 to $51.97.

OVERCOOKED: Blue Apron shares declined after the meal-kit seller said it is cutting about 320 jobs less than four months after it became a public company. The stock dropped 9 cents, or 1.7 percent, to $5.21.

DIALED IN: Verizon Communications climbed 2.2 percent after the company said its wireless unit did well in its latest quarter and gained more mobile phone users than expected. Its shares rose $1.07 to $49.72.

CHINA: China's economy expanded at a 6.8 percent annual pace during the July-September quarter, relatively stable growth but slightly below the previous quarter's 6.9 percent, government data showed. The latest result gives a boost to the ruling Communist Party, which has been trying to steer the world's second-largest economy to slower, more sustainable growth based on consumer spending rather than exports and investment.

BONDS YIELDS: Bond prices rose. The yield on the 10-year Treasury note fell to 2.31 percent from 2.35 percent late Wednesday.

OIL: Benchmark U.S. crude lost 50 cents, or 1 percent, to $51.54 per barrel on the New York Mercantile Exchange. The contract rose 15 cents on Wednesday. Brent crude, used to price international oils, fell 72 cents, or 1.2 percent, to $57.43 per barrel in London. It gained 27 cents the day before.

CURRENCIES: The dollar fell to 112.47 yen from 112.90 yen on Wednesday. The euro rose to $1.1851 from $1.1802.

MARKETS OVERSEAS: Global stocks were mostly down following the relatively weak Chinese economic growth data and as tensions rose over Catalonia's bid for independence from Spain. In Europe, Germany's DAX declined 0.4 percent, while France's CAC 40 fell 0.3 percent. Britain's FTSE 100 slid 0.2 percent. Asian markets finished mostly weaker. Japan's Nikkei 225 gained 0.4 percent, while South Korea's Kospi slipped 0.4 percent. Hong Kong's Hang Seng index slumped 1.9 percent.

(BE)