The Dow industrials plunged back below 9,000 yesterday, coming close to posting its second 200-point loss of the week, as a fourth straight day of profit-taking finally seeped into the technology sector. Extending a rapid retreat from the new high set just last week, the Dow Jones industrial average dropped 184.86 points - or 2.04 per cent - to 8,879.68. Broader stock indicators also posted hefty losses amid some unsettling developments overseas, including a setback in Brazilian efforts at reform and a co-ordinated interest rate cut in Europe that may signal more weakness in a key market for US products.
Declining issues outnumbered advancers by a five-to-three margin on the New York Stock Exchange, with 1,160 up, 1,923 down and 468 unchanged. Nasdaq decliners led by a three-to-two ratio. NYSE volume totalled 797.20 million shares, up from 724.44 million at the same time on Wednesday.
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