Stocks slipped in New York today as investors locked in profits from Tuesday's rally while clinging to fears that the Federal Reserve's latest interest rate increase will not slow the nation's rapid economic growth. On Wall Street, the Dow Jones industrial average dropped 49.24, or 0.4%, at 10,883.09.
Broader stock indicators also fell. the Standard and Poor's 500 fell 9.38 to 1,410.69, and the Nasdaq composite index fell 24.12 to 3,271.40.
Declining issues outnumbered advancers by a 3-to-2 margin on the New York Stock Exchange, with 1,867 down, 1,222 up and 481 unchanged.
NYSE volume totalled 938.69 million shares, against 935.86 million in the previous session.
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The Russell 2000 index of smaller companies rose 0.19 to 457.07.
