According to the official reports, a U. S. market rally spun into disarray late Wednesday, leaving the Dow Jones industrial average to close lower than it has since early February.

An early Organization of Economic Cooperation and Development report that upgraded economic growth projections among 31 major economies for 2010 and 2011 did not convince investors the global recovery was sound. Data released Wednesday showed U. S. home sales rose 14.8 percent in April compared to March and durable goods orders up 2.9 percent from the previous month. Still, negative sentiment prevailed.

The DJIA, by close, lost 69.30 points, 0.69 percent, to 9,974.45.

The Standard & Poor's 500 index shed 0.57 percent, 6.08 points, to 1,067.95.

Loosing 0.68 percent or 15.07 points, the Nasdaq composite index went down to 2,195.88.

1,909 stocks advanced and 1,179 declined on a volume of 6.9 billion shares traded, on the New York Stock Exchange.

To yield 3.185 percent, the benchmark 10-year U. S. Treasury note fell 7/32.

From Tuesday's $1.2334, the euro fell to $1.2171. The dollar, against the yen, fell to 89.91 yen from Tuesday's 90.12 yen. (With Inputs from Agencies)