NEW YORK (CNNMoney) -- After nearly a full day in the red, stocks erased most of their losses in the last half hour of trading Wednesday.
The S&P 500 (SPX) ended higher by 2 points, or 0.2%. The tech-heavy Nasdaq (COMP) added 11 points, or 0.4%.
Meanwhile, the Dow Jones industrial average (INDU) was basically flat, losing 6 points, or less than 0.1%. Not bad, considering the blue-chip index had fallen 190 pointsearlier in the trading day.
Worries about Greece leaving the eurozone fueled pessimism from the start of the trading day, as did disappointing earnings, sales and outlook from Dell.
"The Dell news sent some fears through the tech sector," said Timothy Ghriskey, chief investment officer at Solaris Asset Management. "The concern is that this goes beyond just Dell. We saw similar news out of Cisco recently."
European leaders were meeting in an ad hoc summit to address the latest problems with sovereign debt. The meeting is occurring amid growing worries that Greece is moving closer to dropping the euro, and about what the contagion effects an exit might have on other economies.
Former Greek prime minister Lucas Papademos told Dow Jones Newswires late Tuesday that Greece is considering preparations to leave the eurozone.
"I think the biggest issue for U.S. markets remains the story in Europe," said Michael Sheldon, chief market strategist at RDM Financial Group. "Does Greece pull out of the eurozone and what kind of contagion does that cause?"
The dollar rose to its highest level in nearly two years against the euro. The greenback also edged higher versus the British pound, but lost ground against the Japanese yen.
Oil for July delivery slipped $1.95, or 2.1%, to $89.90 a barrel, the first time since November that it has fallen below the $90 benchmark. Officials from six world powers are due to hold talks with Iran in Baghdad on Wednesday about its nuclear program, raising hopes that there might be an deal that would end sanctions against Iran.
Gold futures for June delivery tumbled $28.20, or 1.8%, to $1,548.40 an ounce.
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