Prices retreated on Wall Street yesterday, dousing an early rally in US technology stocks. The Dow Jones industrial average fell 127.10 points - or by 1.3 per cent - to 9,7686.16.
The Standard and Poor's 500 fell 14.34 to 1,286.41, and the technology-heavy Nasdaq composite index fell 18.57 to 2,461.72.
Declining issues outnumbered advancers by a 7-to-6 margin on the New York Stock Exchange. NYSE volume totalled 922.06 million shares, against 725.53 million in the previous session.
The NYSE composite index fell 5.06 to 603.59, and the American Stock Exchange composite index fell 1.33 to 710.30.
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The Russell 2000 index of smaller companies fell 1.15 to 397.63.
