Stocks closed mostly lower in New York yesterday as investors, growing more cautious as next week's Federal Reserve meeting approaches, locked in profits from the stunning surge in technology stocks.
On Wall Street, the Dow Jones industrial average dropped 101.53, or 1 per cent, to 10,617.32. Broader stock indicators also fell.
The Standard and Poor's 500 fell 11.77 to 1,365.24, and the Nasdaq composite index fell 19.04 to 3,124.93.
Declining issues outnumbered advancers by a 5-to-4 margin on the New York Stock Exchange, with 1,707 down, 1,336 up and 518 unchanged.
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NYSE volume totalled 848.67 million shares, against 797.37 million in the previous session.
The Russell 2000 index of smaller companies rose 1.21 to 446.28.
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