Around the World's Markets: New York

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The Independent Online
STOCKS CLOSED sharply lower yesterday as fresh economic data showed that the US economy was hotter than expected.

The Dow Jones Industrial Average fell 176.04 points, or 1.59 per cent, to end at 10,914.13. The Nasdaq composite index lost 46.21 points, or 1.67 per cent, to 2,712.69, and the Standard & Poor's 500 stock index slipped 24.25 points, or 1.80 per cent, to 1,324.02. NYSE volume was relatively light, with about 595.5 million shares trading. Declines led advances by 2,133 to 835.