Positive news about better-than-expected economic growth in the second quarter was overshadowed by a poor showing in consumer confidence and unease ahead of the third-quarter earnings season. Stocks were also vulnerable to selling after a runup in prices since the spring.

According to preliminary calculations, the Dow Jones industrial average closed down 30.88, or 0.3 percent, to 9,313.08, after losing 81.55 yesterday.

The Nasdaq composite index fell 25.17 or 1.4 percent, to 1,792.07 following a loss of 26.46 the previous session. The Standard & Poor’s 500 index declined 6.42, or 0.6 percent, to 996.85 after losing 6.11 yesterday.

The Nasdaq suffered a weekly loss of 6 percent, its biggest one-week decline in 17 months or since the week that ended April 26, 2002, when the index shed 7.4 percent. Analysts said tech stocks took the biggest fall this week because they had enjoyed the greatest gains in the rally that began in March.

The Dow ended the week down 3.4 percent, its largest weekly loss in six months, or in the week that ended this past March 28, when the blue chips gave back 4.4 percent. For the week, the S&P 500 dropped 3.8 percent, its worst weekly percentage loss in eight months, or since the week ended Jan. 24, when the index fell 4.5 percent.

Stocks struggled to find direction early today but slipped later in the day, continuing a trend from the previous two trading sessions. Investors are questioning whether stocks rose have risen too high given lingering doubts about the economic recovery.

Those doubts were fanned Wednesday by OPEC’s announcement it would cut oil production. Yesterday, investors focused on a report showing a larger-than-expected drop in durable goods orders.

"We’re having a continuation of the consolidation that started five days ago," said Alfred E. Goldman, chief market strategist, A.G. Edwards & Sons Inc. in St. Louis.

"I think we’re handling the profit-taking in a very positive fashion," Goldman said. "We’re really just getting a moderate correction despite the magnitude of the previous rally."

The latest news about the economy was good today. In a report released before the start of trading, the government said the economy grew at annual rate of 3.3 percent in the second quarter, better than expected.

Nokia rose 19 cents, or 1 percent, to $15.26 on the New York Stock Exchange after the company announced a sweeping restructuring today.

Eastman Kodak Co. fell 75 cents, or 3 percent, to $21.40, after the company said yesterday that it was slashing its dividend to focus resources on developing the digital photography market.