Stocks fell broadly yesterday after AT-and-T delivered a cautious profit outlook and investors took profits from a three-day rally in technology shares. Worries about rising interest rates hung over the market, keeping volume low and buyers scarce.
The Dow Jones industrial average fell 80.66, or 0.7 per cent, to close at 10,731.12. Broader stock indicators also fell. The Nasdaq composite index fell 172.66, or 4.4 per cent, to 3,785.42, its first decline in four sessions.
The Standard and Poor's 500 fell 21.97 to 1,446.28. Declining issues outnumbered advancers by a 9-to-7 margin on the New York Stock Exchange, with 1,702 down, 1,313 up and 421 unchanged.
NYSE volume totalled 1.01 billion shares at the close, Vs 943.85 million in the previous session.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/VR3765MFOBH2NMV2QNICYDF67M.png)