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Dow, S&P 500 dip; momentum shares hit Nasdaq


    NEW YORK (Reuters) - U.S. stocks slipped on Thursday, with a sharp drop in biotech and momentum stocks pushing the Nasdaq Composite down nearly 1 percent.

    The Dow Jones industrial average dipped 0.45 of a point to end unofficially at 16,572.55. The S&P 500 declined 2.13 points or 0.11 percent, to finish unofficially at 1,888.77. The Nasdaq Composite dropped 38.716 points or 0.91 percent, to close unofficially at 4,237.74.

    Both the Dow and S&P 500 hit intraday record highs early in the session.

    (Reporting by Caroline Valetkevitch; Editing by Jan Paschal)