Technology, budget jitters dull market

SHARE prices plunged on Wall Street yesterday amid a sell-off in the technology sector and jitters over the breakdown in budget…

SHARE prices plunged on Wall Street yesterday amid a sell-off in the technology sector and jitters over the breakdown in budget talks in Washington.

Circuit-breakers slowed trading as the Dow Jones index was off as much as 80 points during the session.

Some 420 million shares changed hands on the New York Stock Exchange in the first trading day since Monday's snowstorm-shortened session. Losers outpaced winners 1,569 to 846 with 656 issues unchanged.

On the bond market, yield on 30-year US Treasury obligations jumped to 6.12 per cent from 6.04 per cent Monday as traders showed concern over the breakoff of budget talks between congressional leaders and US President Bill Clinton.

The NYSE's composite index fell 3.78 to 327.48. Standard and Poor's 500-stock index lost 9.01 to 610.45.

At the American Stock Exchange, the market value index lost 4.66 to 541.69.

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