(CNBC) U.S. equities closed lower on Thursday as large-cap technology stocks faced renewed pressure.
The Dow Jones industrial average fell about 15 points, with Goldman Sachs contributing the most losses. The 30-stock index briefly fell more than 100 points earlier in the session.
The S&P 500 dropped 0.2 percent with information technology sliding 0.5 percent; the sector briefly fell more than 1 percent. The Nasdaq composite pulled back about 0.5 percent after falling more than 1 percent earlier on Thursday.
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"What's happening here is people are equating FANG to tech more broadly, and that's a mistake," said Michael Arone, chief investment strategist at State Street Global Advisors. "About 74 percent of the tech sector are outperforming the market."