A weaker gross domestic product figure and a flurry of late-day trading left stocks widely mixed Friday. Tech issues and small caps gained; blue chips fell.

The GDP grew at a 3.9 percent annual rate in the first quarter -- a strong pace, but less than Wall Street expected. Investors put a mixed spin on the news -- some believed the lower figure would mean less inflation and moderate interest rates, while others questioned the strength of the economic recovery.

Analysts said the GDP figure would prevent the Federal Reserve from raising rates aggressively at its meeting next week. Wall Street is expecting a quarter-percentage-point rate increase from the two-day meeting that starts Tuesday.

"I think at this point, a half-point raise is off the table," said Daniel Portanova, managing director at Gartmore Separate Accounts in Irvington, N.Y.

The market showed volatility in the last hour of trading as institutional investors adjusted their portfolios to reflect the annual rebalancing of the Russell indexes.

The Dow Jones industrial average fell 71.97, or 0.7 percent, to 10,371.84.

Broader stock indicators were mixed. The Standard & Poor's 500-stock index was down 6.22, or 0.6 percent, at 1134.43, and the Nasdaq composite index gained 9.90, or 0.5 percent, to 2025.47. The Nasdaq is home to many small-cap stocks, which are measured by the Russell 2000 index.

For the week, the Dow lost 0.4 percent and the S&P 500 dropped 0.1 percent, while the Nasdaq gained 2 percent. The Dow reversed a four-week run of gains, and the S&P 500 had its second consecutive losing week. The Nasdaq reversed last week's decline.

Volume remained low as investors looked to the Fed meeting and the handover of power in Iraq next week before making any large moves on the markets.

Clothing and sporting goods manufacturer Nike jumped $2.91, to $75.31, after posting a 21 percent increase in quarterly profit.

Countrywide Financial fell 21 cents, to $71.09, after the company board approved a 2-for-1 stock split, to be paid in the form of a stock dividend.

Other Indicators

* The New York Stock Exchange composite index fell 26.36, to 6571.20; the American Stock Exchange index fell 0.60, to 1249.98; and the Russell 2000 index of smaller-company stocks rose 8.65, to 587.70.

* Advancing issues outnumbered declining ones by 6 to 5 on the NYSE, where trading volume rose to 1.79 billion shares, from 1.4 billion on Thursday. On the Nasdaq Stock Market, advancers outnumbered decliners by 7 to 5 and volume totaled 2.15 billion, up from 1.67 billion.

* The price of the Treasury's 10-year note rose 31 cents per $1,000 invested, and its yield fell to 4.64 percent, from 4.65 percent on Thursday.

* The dollar rose against the Japanese yen and the euro. In late New York trading, a dollar bought 107.63 yen, up from 107.23 late Thursday, and a euro bought $1.2164, down from $1.2168.

* Light, sweet crude oil for August delivery settled at $37.55, down 38 cents, on the New York Mercantile Exchange.

* Gold for current delivery fell to $402.90 a troy ounce, from $403.10 on Thursday, on the New York Mercantile Exchange's Commodity Exchange.