Stocks slumped again on Wall Street yesterday as a weakening dollar pushed bonds lower and gave investors another reason to sell shares ahead of next week's expected rise in US interest rates.
At the close of trading, the Dow Jones industrial average was down 27.54 points - or by 0.25 per cent - at 10,963.84, after having dropped as much as 118 points in earlier trading. The Dow fell 125.70 on Wednesday amid interest rate worries.
Declining issues outnumbered advancers by a three-to-two margin on the New York Stock Exchange, with 1,375 up, 1,651 down and 520 unchanged. NYSE volume totalled 673.7 million shares, against 676.8 million in the previous session.
The NYSE composite index fell 3.29 to 620.36, and the American Stock Exchange composite index rose 1.15 to 785.07.
The Russell 2000 index of smaller companies fell 0.33 to 432.77.
