Stocks fell sharply in New York today, led by technology shares, after a new report showed surprising strength in the US economy and suggested that inflationary pressures may not be easing after all.
The Dow Jones industrial average fell 74.96 to 10,511.17. For the week, the Dow lost 222.39.
The Nasdaq composite index slid 179.23, to 3,663.00, extending Thursday's 145-point slide and bringing the week's loss to about 431 points.
Among other broad-market indicators, the Standard and Poor's 500 fell 29.73, to 1,419.89, and the Russell 2000 index of smaller companies fell 11.39 to 490.22.
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Declining issues outnumbered advancers by a 2-to-1 ratio on the New York Stock Exchange and by an even wider margin on Nasdaq Stock Market.
