Riding Out A Sell-Off

The Dow Jones industrial average ended a rough week down 240 points, closing at 10,230. The Nasdaq closed at 1,920, with a sell-off of technology stocks leading the index on a five-day losing streak, as investors reacted to soft outlooks among tech companies. The University of Michigan consumer sentiment index was up slightly from earlier in April but still down compared with March. Procter & Gamble beat expectations on Friday when it reported Q3 earnings up 20 percent. Internet search company Google filed a registration with the Securities and Exchange Commission for an IPO that could fetch the company as much as $2.7 billion. On the Big Board, Omnicom’s stock price was unchanged, closing the week at $79.44, while IPG’s declined 4.3 percent to close at $15.69. WPP, trading as American Depository Receipts on the Nasdaq, lost 7.3 percent by week’s end to close at $49.13.