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Dow drop 100 points, trades near session low as tech stocks slump, energy pares gains

The Dow Jones Industrial Average was trading near session lows Thursday afternoon, as know-how shares took a leg lower and the marketplace's best performer, power, cut its sharp, early positive factors. The Dow DJIA, -Zero.31% most not too long ago, was down 116 points, or Zero.5%, at 24,652, whilst the S&P 500 index SPX, -Zero.18% was down Zero.four% at 2,712, harassed lower by a 1% decline within the know-how sector XLK, -Zero.59% more than offsetting a 0.8% gain for the power sector XLE, +1.28% The technology-laden Nasdaq Composite Index COMP, -Zero.36% retreated by Zero.6% at 7,352. The afternoon drop for the wider marketplace came as crude-oil costs CLM8, -Zero.34% edged lower, weighing on values for power and oil-related firms, together with Exxon Mobil Corp. XOM, -Zero.43% and Chevron Corp. CVX, +Zero.46%