The rout erased much of Wednesday's 257 point gain in the Dow when Federal Reserve chief Alan Greenspan stoked hopes that interest rates might be cut soon.
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SHARE PRICES closed sharply lower on profit-taking after yesterday's sharp gains, amid concerns that the failure of the hedge fund Long-Term Capital Management may be the tip of an iceberg of derivative-based losses. The Dow Jones closed down 152.42 points at 8,001.99. The Nasdaq shed 39.93 points to close at 1720.34.