Market cuts losses on financials, dollar

By IBTimes Staff Reporter | February 10 2010 12:56 PM

The Dow and the S&P 500 briefly turned positive on Wednesday as financial shares advanced, helping the broader market reverse steep losses seen earlier in the session.

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The Nasdaq traded near break-even.

The move up in stock indexes coincided with the U.S. dollar paring some of its earlier gains. The U.S. dollar index <.DXY> was up 0.2 percent after being up by 0.6 percent earlier.

The Dow Jones industrial average <.DJI> was down 8.24 points, or 0.08 percent, at 10,050.40. The Standard & Poor's 500 Index <.SPX> was down 1.21 points, or 0.11 percent, at 1,069.31. The Nasdaq Composite Index <.IXIC> was down 3.12 points, or 0.15 percent, at 2,147.75.

(Reporting by Ellis Mnyandu, Editing by Chizu Nomiyama)

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