Attempted come back by Internet issues fails

Stocks ended lower in New York yesterday after an attempted comeback in battered Internet stocks failed, and blue-chip stocks…

Stocks ended lower in New York yesterday after an attempted comeback in battered Internet stocks failed, and blue-chip stocks came under selling pressure from a disappointing earnings report by IBM.

On Wall Street, the Dow Jones industrial average dropped 143.41 points at 9,120.67. Broader stock indexes ended lower after an attempted come-back in Internet shares fizzled in the final 90 minutes.

The Standard and Poor's 500 fell 9.97 to 1,225.19, and the technology-heavy Nasdaq composite index fell 5.84 to 2,338.88.

Declining issues outnumbered advancers by a 3-to-2 margin on the New York Stock Exchange, with 1,238 up, 1,818 down and 499 unchanged.

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NYSE volume totalled 773.41 million shares. The NYSE composite index fell 4.28 to 583.75, and the American Stock Exchange composite index fell 0.30 to 704.69.

The Russell 2000 index of smaller companies fell 1.61 to 422.44.