Blue-chip stocks resumed their slide yesterday as a strong report on US employment solidified Wall Street's belief that the Federal Reserve will raise interest rates later this month.

At the close of trading, the Dow Jones industrial average was down 79.79 points, or 0.7 per cent, at 10,714.03. The blue-chip index ended a choppy week 58.08 points higher. Broader stock indicators like the Standard and Poor's 500 index and the Nasdaq composite index fell modestly, capping a week of steep losses.

The Standard and Poor's 500 fell 13.42 to 1,300.29, and the Nasdaq composite index fell 17.64 to 2,548.19.

Declining issues outnumbered advancers by a two-to-one margin on the New York Stock Exchange, with 1,980 down, 984 up and 536 unchanged.