Around the World's Markets: New York

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The Independent Online
PROFIT WARNINGS from Boeing and Sears, Roebuck sent the Dow Jones plummeting down through the 9,000 barrier, amid fears that economic growth would slow in the new year. "Stocks have had a tremendous run, so investors are looking for any bad news as an excuse to sell," said one analyst.

Internet stocks fell after the Wall Street Journal suggested some companies might be overvalued. The Dow Jones had fallen to 8,975 by early afternoon, a 1.75 per cent drop from the previous day's close.