US stocks closed mostly lower as investors took a break from their recent buying spree in the technology sector and failed to find any reasons to buy stocks in the broader market.

The Dow Jones industrial average fell 38.53 to close at 11,068.12.

Broader stock indicators gave up early gains and closed with modest losses.

The Nasdaq, pausing after its recent surge higher, ended a string of four consecutive record closes. On Tuesday, the technology-dominated index rose 40.91 to 3,586.92, its 20th new record close since October 29th, largely due to a 23 per cent gain by Internet search company Yahoo!.