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US stocks hit by health care woes but avoid bigger losses

U.S. stocks fell Friday as health care and technology companies continued to report weak first-quarter results, but thanks to some late buying, they managed to avoid major losses.

Stocks opened lower and fell further throughout the morning, extending a downturn from the day before. That followed a rout in European indexes. Late in the day bond prices rose again, sending yields lower and pushing investors to buy utility and phone company stocks.

Dan Suzuki, senior U.S. equities strategist at Bank of America, said investors don't like what they're seeing in the results from technology companies.

"A lot of investors have been disappointed by results from tech this...

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