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Friday 11 December 1998 00:02 GMT

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US STOCKS tumbled as investors worried about the outlook for corporate earnings and the outcome of the impeachment hearings in Washington.

The Dow Jones Industrial Average closed off 167.61 points, or 1.86 per cent, at 8,841.58, weighed down by steep drops in shares of the drug maker Merck and the computer group IBM. Technology stocks, which closed on Wednesday at a new record high, also ended sharply lower. The Nasdaq Composite shed 34.47 points, 1.68 per cent, to 2,015.95.

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