Around the World's Markets New York

WALL STREET reeled as the unfolding financial crisis in Russia and new fears over Japan added to worries that the global economy was under siege. Investors are increasingly concerned over prospects for corporate profits.

The Dow closed down 93.46 points at 8,459.50. The index rose more than 50 points in opening trading, but the rally quickly fizzled, leaving blue chips largely in the red as selling programmes took their toll.