Around the World's Markets: New York

WALL STREET stocks closed sharply lower after a midday rally lost momentum amid renewed profit-taking of high-technology shares.

The Dow Jones index closed down 101.56 points, or 1.09 per cent, at 9,195.47, after reaching an intraday low of 9,179.48.

The Standard & Poor's 500 index finished down 17 points, or 1.43 per cent, at 1,224.06.

The high-technology Nasdaq index closed a busy session down 64.88 points, or 2.80 per cent, at 2,2248.