Financial and tech shares showed particular weakness, while large drug stocks posted gains as investors sought safety in consumer staples, energy and health care, which have historically done well when rates are rising. The market’s muted reaction to earnings news did not surprise analysts, who said share prices already reflect most of the gains that were expected for the first quarter.

"The markets were too enthusiastic, too far ahead of earnings, and they had not factored in other influences — a close election, geopolitics, interest rate changes — and the result is this volatility," said Subodh Kumar, chief investment strategist for CIBC World Markets.

According to preliminary calculations, the Dow Jones industrial average rose 19.51, or 0.2 percent, to 10,397.46.

The broader indexes were mixed. The Nasdaq composite index declined 22.68, or 1.1 percent, to 2,002.17, largely weighed down by semiconductor issues. The Standard & Poor’s 500 index was up 0.67, or 0.1 percent, at 1,128.84.

Buyers were also scarce in the bond market, where the yield on the 10-year Treasury note rose to 4.40 percent, from 4.37 percent yesterday. The selling was not dramatic, compared to recent weeks, but bond prices were still "moving in the wrong direction," said Brian Pears, head equity trader at Victory Capital Management in Cleveland.

"It’s fair to say equity traders have become somewhat obsessed with the performance of the 10-year note," Pears said. "The macro issues — what’s happening with the economy — are swamping the more micro issues of earnings for individual companies, which by and large have been fantastic."

The stock market has skidded this week as investors contrast good earnings and equity fundamentals against fears about what recent economic data will mean for interest rates.

Pharmaceutical stocks were among the day’s biggest gainers, and kept the Dow from sinking. Merck & Co. was up $1.54 at $46.98, Pfizer Inc. added $1.53 to $37.34 and Johnson & Johnson gained $1.92 to $54.52.

In contrast, investors continued to batter rate-sensitive financial stocks. Citigroup, the nation’s largest financial institution, lost $1.03 to $49.92.

Chip stocks also were vulnerable. Advanced Micro Devices Inc. lost 90 cents to $16.22, although it beat expectations.

Texas Instruments Inc. fell 66 cents to $28.02 despite matching Wall Street’s profit expectations. The company, which makes chips used in half the world’s mobile phones, has lagged since its biggest customer, Nokia, warned of a sales slowdown.

Among the biggest tech gainers, Apple soared $2.66, or 10 percent, to $29.30 as huge demand for its iPod portable digital music players helped it easily beat Wall Street expectations.