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New York - Wall Street shares struggled against heavy selling pressure in the tech sector in early trade Thursday, after sharp losses in Tokyo and Asia bourses.
A turnaround in Chinese shares, a rebound in crude oil prices and JPMorgan Chase's forecast-beating fourth-quarter earnings were not enough to reverse Wednesday's steep losses.
About 45 minutes into trade, the blue-chip Dow Jones Industrial Average, which plummeted 2.2% Wednesday, was up 10.99 points (0.7%) at 16 162.40.
The S&P 500 added 0.86 (0.05%) at 1,891.14, while the Nasdaq Composite - down 3.4% Wednesday -- lost 18.20 (0.40%) at 4 507.86.
Leading the market lower was Twitter, whose shares plummeted 7%, taking the loss from the beginning of the year to 24%.
JPMorgan shares rose 1.50% after the banking giant reported a 10.2% rise in fourth-quarter earnings, with earnings per share of $1.32 beating analyst predictions by seven cents.
The major automakers were all significant losers after two US dealers alleged in a lawsuit that Fiat Chrysler's US unit conspired to inflate sales figures.
The suit came just weeks after the unit, FCA US, reported record sales in 2015, up seven percent to 2.2 million vehicles after a very strong December.
In a statement, Fiat Chrysler said it "believes that the claim is without merit" and "intends to defend this action vigorously."
Fiat Chrysler shares sank 5.2%; General Motors lost 3% and Ford 2.8%.
On the Dow, shares of Home Depot, the big-box chain for construction and gardening supplies, continued to slide, falling 1.9 percent. The shares are down 10% since the year began.
But big oil companies were higher on the modest rebound in crude prices: ExxonMobil gained 2.1% and Chevron 2.3%.
