Around the World's Markets: New York

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SHARES closed sharply higher after Federal Reserve chairman Alan Greenspan made few negative comments in Senate testimony. Hi-tech and telecoms shares were strong. The Dow closed up 81.10 at 9,281.33, having risen to an intraday high of 9,300.64. The Nasdaq hit another record, up 70.19 to 2,477.33.

Mr Greenspan said the US had avoided a slowdown from global financial crisis, helped by lower long-term rates, but said the US could not be isolated from economic difficulties elsewhere.