Around the World's Markets: New York

WALL STREET stocks fell sharply yesterday, dragged by a sell-off in technology and financial issues after several analysts counselled trimming holdings in the sectors. The Dow Jones fell 174.61 points - 1.6 per cent - to close at 10,654.67, with IBM and Citigroup posting some of the heaviest losses.

The Nasdaq index also closed lower with Internet stocks and other technology issues rattled by interest rate concerns and fading Web euphoria. It closed down 66.49 points - 2.64 per cent - to 2,453.64.