Stocks were mixed in volatile trading in New York yesterday as bluechip issues, falling victim once again to investor worries about interest rates, ended a two-day rally. Technology stocks managed a slim advance.
The Dow Jones industrial average dropped 156.68, or 1.5 per cent, to 10,561.41, wiping out more than half of a 292-point gain in the past two sessions.
Broader stock indicators were mixed. The Standard and Poor's 500 fell 15.14 to 1,386.91, and the Nasdaq composite index rose 6.88 to 4,427.65.
Declining issues outnumbered advancers by a four-to-three margin on the New York Stock Exchange, with 1,728 down, 1,322 up and 463 unchanged.
NYSE volume totalled 1.01 billion shares, against 1.09 billion in the previous session.
The Russell 2000 index of smaller companies rose 7.52 to 547.76.
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