NEW YORK (June 28, 2012)--A late recovery Thursday on Wall Street wiped out most of the stock market's earlier losses, leaving the Dow Jones industrial average down just 25 points.
The Dow was down as much as 177 points Thursday, but came back sharply in the last 20 minutes of trading to close 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.
The Nasdaq composite fell 26 points to close at 2,849.
Bank stocks erased much of their losses in late trading. JPMorgan cut its loss in half.
Hospital stocks rose after the U.S. Supreme Court upheld most of President Obama's health care law.
Rising stocks outnumbered falling ones three to two and volume was average at 3.8 billion shares.