Around the World's Markets: New York

THE DOW broke its four-session winning streak to end sharply lower as stocks suffered from the dashed hopes of co-ordinated interest rate cuts to ease financial turmoil. The index closed down 216.01 points, or 2.7 per cent, at 7,873.77.

On the New York exchange, declining issues were ahead of advancing by nearly three to one, with 695 million shares changing hands. The Dow slid more than 200 points soon after opening in heavy trading before holding station until the close.