Jul. 21, 2010 (United Press International) -- U.S. markets wavered through the day and closed lower Wednesday after Abbott Laboratories (NYSE:ABT) reported earnings were flat in the second quarter.
The drug maker said it earned $1.29 billion in the second quarter, a numerical repeat of the first quarter, with profits of 83 cents a share.
Prominent money management firm BlackRock said its earnings nearly doubled to $432 million in the quarter, due to its acquisition of Barclays (NYSE:BCS) Global Investors.
At the close, the Dow Jones industrial average shed 109.43 points, 1.07 percent, to 10,120.53. The Standard & Poor's 500 index lost 1.28 percent, 13.89, to 1,069.59. The Nasdaq composite index dropped 1.58 percent, 35.16, to 2,187.33.
On the New York Stock Exchange, 992 stocks advanced and 2,018 declined on a volume of 4.7 billion shares traded.
The benchmark 10-year treasury note rose 21/32 to yield 2.882 percent.
The euro fell to $1.2756 from Tuesday's $1.2893. Against the yen, the dollar fell to 87.01 yen from Tuesday's 87.44 yen.
In Tokyo, the Nikkei 225 index lost 21.63 points or 0.23 percent to 9,278.83.
In Britain, the FTSE 100 index added 75.18 points, 1.46 percent, to 5,214.64.
