Stocks slumped yesterday as investors locked in gains from the technology rebound despite some strong profit reports by major companies and a mostly unsurprising inflation report.
The Dow Jones industrial average fell 64.35 to close at 10,739.92 after falling as much as 101 points during the session.
Among broader market indicators, the Nasdaq composite index fell 97.73 to 4,176.94, the Standard and Poor's 500 fell 16.75 to 1,493.74 and the Russell 2000 index of smaller companies fell 8.90 to 536.28.
Declining issues outnumbered advancers by about a three-to-two margin on the New York Stock Exchange and the Nasdaq Stock Market. NYSE volume came to 905.34 million shares at the close, almost even with Monday's tally of 900.37 million.
The Labour Department reported that consumer inflation jumped 0.6 per cent in June, mainly reflecting surging petrol prices and a record rise in the cost of natural gas.
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