Stocks resumed their slide in New York yesterday after new reports showed the economy's surging growth has not slowed in recent months. The reports renewed concerns that hints of inflation will prompt the Federal Reserve to boost interest rates next week.
At the close of trading on Wall Street, the Dow Jones industrial average was down 63.95, or 0.6 per cent, at 10,273.00, having recovered from a loss of as much as 135 points. The blue-chip index ended a fairly volatile week just 6.33 points below last Friday's close.
The Standard and Poor's 500 rose 0.10 to 1,282.81, and the Nasdaq composite index fell 9.30 to 2,736.86.
Declining issues outnumbered advancers by a 7-to-5 margin on the New York Stock Exchange, with 1,798 down, 1,257 up and 499 unchanged.
The Russell 2000 index of smaller companies fell 3.76 to 423.54.
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