How the Dow Jones industrial average did Thursday

A slump in oil prices weighed on the stock market Thursday, pushing the Standard & Poor's 500 index to its third straight loss.

Stocks had started the day higher after the European Central Bank surprised investors by announcing that it had cut its benchmark interest rate to a record low and planned to purchase asset-backed securities in an effort to stimulate the region's ailing economy.

The Dow Jones industrial average fell 8.70 points, or 0.1 percent, to 17,069.58.

The Standard & Poor's 500 index slipped 3.07 points, or 0.2 percent, to end at 1,997.65.

The Nasdaq composite dropped 10.28 points, or 0.2 percent, to 4,562.29.

For the week:

The Dow is down 28.87 points, or 0.2 percent.

The S&P 500 is down 5.72 points, or 0.3 percent.

The Nasdaq is down 17.98 points, or 0.4 percent.

For the year:

The Dow is up 492.92 points, or 3 percent.

The S&P 500 index is up 149.29 points, or 8.1 percent.

The Nasdaq is up 385.70 points, or 9.2 percent.