Around the World's Markets: New York

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The Independent Online
WALL STREET was down sharply in early trading, but up from earlier losses, as robust retail sales and new economic data fed fears the economy may be too hot to delay an interest-rate hike.

By midday, the Dow Jones was down 131.08 points, or 1.20 per cent, at 10,806.48, a day after a rally ended a multiday losing streak exceeding 500 points.

The Nasdaq was down 19.83 points, or 0.72 per cent, to 2,730.97. The Standard & Poor's 500 stock index was down 14.68 points, or 1.10 per cent, at 1,316.39.