MARKET REPORT - NEW YORK

STOCKS prices closed with modest losses yesterday, pausing after a week of profit warnings brought heavy selling in some sectors…

STOCKS prices closed with modest losses yesterday, pausing after a week of profit warnings brought heavy selling in some sectors of the market, notably technology companies.

The Dow Jones industrial average ended down 9.98 points at 5,510.56, and the Nasdaq lost 2.88 points at 1,103.48.

In the broader market, advancing and declining issues were about evenly matched on heavy volume of 398 million shares on the New York Stock Exchange.

Meanwhile, the dollar rallied across the board, ending the week on a firm note as higher US Treasury bond prices emboldened currency traders.

  • Join The Irish Times on WhatsApp and stay up to date

  • Sign up to the Business Today newsletter for the latest new and commentary in your inbox

  • Listen to Inside Business podcast for a look at business and economics from an Irish perspective