Interest rate fears drove a major sell-off on Wall Street today, with the Dow Jones industrial average closing below 10,000 for the first time since December 10 and sending all three major indexes to their lows for the year.

Wall Street looked past an underwhelming statement by the Federal Reserve today and rebounded smartly as bargain hunters picked up stocks battered by a week of heavy losses.

US investors today used the latest round of disappointing economic data as an excuse to gather profits and send stocks lower.

Stocks in the United States retreated today after a report on November employment revealed disappointing job growth and Intel Corp issued a forecast that fell short of expectations.

Another wave of positive earnings news from companies such as IBM propelled stocks higher today, giving Wall Street its fifth advance in six sessions. The Dow Jones industrials rose nearly 240 points.