Stocks closed lower on Wall Street Thursday after Oracle's weak sales results weighed down big U.S. technology companies. Traders also worried about Cyprus running out of time to avoid bankruptcy.

The Dow Jones industrial average dropped 90.24 points, or 0.6 percent, to 14,421.49.

The Standard & Poor's 500 index closed down 12.91, or 0.8 percent, at 1,545.80.

The Nasdaq composite average closed down 31.59, or 1 percent, at 3,222.60.

For the week:

The Dow is down 92.62 points, or 0.6 percent.

The S&P 500 is down 14.90, or 1 percent.

The Nasdaq is down 26.47, or 0.8 percent.

For the year:

The Dow is up 1,317.35 points, or 10.1 percent.

The S&P 500 is up 119.61, or 8.4 percent.

The Nasdaq is up 203.09, or 6.7 percent.