Around the World's Markets: New York

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The Independent Online
THE DOW ended weaker after the expected cut in interest rates by the Federal Reserve failed to trigger a lasting rally. Stocks had already factored in the Fed's quarter-point cut in its federal funds rate, the third easing in as many months.

The Dow closed down 24.97 at 8,986.28, after earlier climbing from a 70-point loss to a 30-point gain on the news of the rate cut. The Nasdaq composite closed up 16.84 points at 1,878.52, while the Standard & Poor's 500 gained 3.45 points to close at 1,139.32.