Stocks fell sharply yesterday as investors turned cautious before a weekend summit focusing on how to resuscitate the Japanese and Asian economies. The Dow Jones industrial average finished 100.14 points lower at 8,712.87 after swinging from an early 49-point gain to a 124-point loss.

It was the third move of at least 100 points this week for the Dow, which dived 207 points on Monday and rebounded 164 points on Wednesday.

Broader stock indicators also turned lower after opening the day strong amid pledges from US and Japanese leaders to intervene again in the currency markets if necessary. On Wednesday, the US Federal Reserve sold dollars for yen for the first time since 1992.

Goldman Sachs played a major role in yesterday's dealings: Microsoft jumped to lead the Nasdaq market higher after the investment firm raised its profit forecast for the software maker.