Stocks ended sharply lower in New York yesterday, as investors reversed a buying spree on Monday that sent the Dow industrials above 11,000 for the first time.
At the close on Wall Street, the Dow Jones industrial average was down 128.58 points - or 1.2 per cent - at 10,886.11. Broader stock indicators gave ground after a mixed morning.
Declining issues outnumbered advancers by an 8-to-7 margin on the New York Stock Exchange, with 1,383 up, 1,598 down and 583 unchanged.
NYSE volume totalled 925.87 million shares, against 805.67 million in the previous session. The NYSE composite index fell 8.08 to 636.10, and the American Stock Exchange composite index fell 0.97 to 785.70.
The Russell 2000 index of smaller companies fell 0.65 to 432.63.
Consumer shares took the biggest hits among blue-chip Dow components. General Motors fell sharply after reporting disappointing April sales figures. Procter and Gamble slid more than three points.
