Around the World's Markets: New York

THE DOW Jones fell, led by JP Morgan & Co, after a retail sales report suggested the economy is growing fast enough to prompt the Fed to raise interest rates. It closed down 120 points, or 1.1 per cent, at 10,910.33. The stock market is in "interest-rate purgatory," said one analyst.

Qualcomm led the Nasdaq higher after the cellphone maker said it will meet or beat fourth-quarter profit estimates. The Nasdaq index rose 23.52, or 0.8 per cent, to 2,868.29.

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