Stocks sank sharply yesterday in a wave of profit-taking, with technology shares suffering the heaviest after leading this week's record-setting advance.

Declining issues outnumbered advancers by a 5-to-2 margin on the New York Stock Exchange, with 837 up, 2,159 down and 510 unchanged.

NYSE volume totalled 651.97 million shares as of 4 p.m., against 695.41 million in the previous session.

The Nasdaq composite index fell 36.15, or 1.9 per cent, to 1,881.46.

The Standard and Poor's 500-stock list fell 10.42 to 1,119.58, also ending a four-session streak of record highs.

The NYSE composite index fell 5.07 to 580.55, and the American Stock Exchange composite index fell 5.62 to 748.05 after setting new highs on Wednesday.

The Russell 2000 index of smaller companies fell 6.19 to 484.95.