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Friday 04 December 1998 00:02 GMT

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US STOCKS ended sharply lower yesterday, as Brazilian shares posted an 8.8 per cent loss amid concerns about a congressional defeat of a key pension reform in the South American country.

The Dow Jones Industrial Average closed down 184.86, or 2.04 per cent, at 8,879.68, having crashed through the 9,000 mark in the morning. The technology-laden Nasdaq composite, which was higher during much of the day, followed the Dow down and closed 40.88 points lower, or 2.05 per cent, at 1,954.34.

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