US stocks capped off the final trading day of a volatile year on a mixed note, with the blue-chip Dow Jones Industrial Average ending lower while the long-suffering sector of small stocks outpaced the market.

The Dow shed 93 points, or 1%, to close at 9181. Throughout the day, the various blue-chip stocks in the index gyrated as investors were seen making last-minute adjustments to their 1998 portfolios.

In the broader market, advances led declines by a 3-to-1 margin on volume of 670 million shares on the New York Stock Exchange.

The technology-heavy Nasdaq index jumped 25.76 points, or 1.19%, to 2,192.71.