Stock market cuts its losses with a late comeback

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Associated Press

Posted on June 28, 2012 at 12:01 PM

Updated Thursday, Jun 28 at 3:32 PM

NEW YORK (AP) — A late recovery on Wall Street wiped out most of the stock market's losses, leaving the Dow Jones industrial average down just 25 points.

The Dow had been down as much as 177 points Thursday but came back sharply in the last 20 minutes of trading. It closed at 12,602, a loss of just 0.2 percent.

Other indexes also cut their losses. The Standard & Poor's 500 index fell three points to end at 1,329 and the Nasdaq composite fell 26 points to 2,849.

Bank stocks erased much of their losses in late trading. JPMorgan cut its loss in half.

Hospital stocks rose after the Supreme Court upheld most of President Obama's health care law.

Rising stocks outnumbered falling ones three to two. Volume was average at 3.8 billion shares.

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