Stocks dropped for the second straight session in the United States today with the Dow Jones industrial average falling to its worst close since March 9. Global markets also sold off as inflation fears worsened.

Profit-taking and a larger-than-expected decline in consumer confidence put pressure on US stocks today, but the market still managed to hang on to most of its huge rally.

A stronger-than-expected forecast from Compaq Computer failed to incite buying on Wall Street today as investors, playing it cautious, decided to collect some of their profits from last week’s rally.