Internet stocks sell-off and Brazil upset Dow

Stock prices fell sharply in New York on a fierce sell-off in Internet-related shares and concerns about Brazil

Stock prices fell sharply in New York on a fierce sell-off in Internet-related shares and concerns about Brazil. At the close of trading, the Dow Jones industrial average was down 71.83 - or by 0.8 per cent - at 9,264.08. Internet stocks opened weaker as sellers moved in at the opening bell to shed some of these high-flyers and book profits. The sell-off in technology shares spread to blue chips in early afternoon as concerns about Brazil mounted, despite the legislature's approval of an important pension reform measure aimed at getting the troubled economy back on its feet. Declining issues outnumbered advancers by a seven-to-four margin on the New York Stock Exchange, with 1,130 up, 1,960 down and 487 unchanged.