Stocks were mostly lower in New York yesterday as investors viewed some new signs of slower economic growth with scepticism, refusing to believe that the Federal Reserve was nearing the end of its long run of interest-rate increases.

The Nasdaq composite index fell 58.50 to close at 3,400.98, failing to extend its 254.37-point gain from Tuesday.

The Dow Jones industrial average slipped 4.80 to 10,522.33. Broader stock indicators, which had joined the Nasdaq in Tuesday's rally, were also lower.

The Standard and Poor's 500 fell 1.85 to 1,420.60.

Advancing issues outnumbered decliners by a 4-to-3 margin on the New York Stock Exchange, with 1,715 up, 1,290 down and 439 unchanged.