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M. Continuo

Market loses ground on profit fears


    NEW YORK (Reuters) - Stocks fell on Tuesday as investors sold technology shares on fears that fallout from the credit turmoil would hurt profits despite the U.S. government's plan to invest in banks to shore up the financial system.

    Concerns about the economy's health and the profit outlook overshadowed the Treasury Department's plan to inject $250 billion in major banks to stabilize the financial system.

    The Dow Jones industrial average was down 1.91 points, or 0.02 percent, at 9,385.70. The Standard & Poor's 500 Index was down 2.55 points, or 0.25 percent, at 1,000.80. The Nasdaq Composite Index was down 39.46 points, or 2.14 percent, at 1,804.79.

    (Reporting by Ellis Mnyandu; Editing by Kenneth Barry)