(CNBC) U.S. stocks mostly declined Thursday afternoon, with the S&P 500 retreating after rising to within two points of its record close and the Nasdaq Composite extending losses into a third day, as investors sorted through a mixed bag of earnings.
The afternoon reversal was “more technical than anything else,” said Art Hogan, chief market strategist at Wunderlich Securities.
“If you have a failed breakout of an existing high or resistance level it tends to bring sellers into the market,” he added.
