US stocks dive over interest fears

Wall Street ended a volatile week with a sharp decline today as investors again succumbed to nervousness about rising interest rates and souring subprime loans. The Dow Jones industrial average fell more than 185 points.

The steep pullback coming a day after a respectable gain was characteristic of the erratic sessions Wall Street has endured in recent weeks as it dealt with concerns ranging from interest rates to the health of hedge funds to, more recently, the prospects of unfavourable legislation from Washington.