Executive Business Briefing -- Stocks closed sharply lower, with technology and financial issues taking a beating, as investors worried about the threat of higher interest rates. Bonds ended virtually unchanged amid profit-taking on the heels of Friday's rally. The Dow Jones industrial average closed down 174 points at 10,654. Declines led advances by better than 2-1 on the New York Stock Exchange. Trading volume was relatively light, with 735 million shares changing hands on the New York Stock Exchange. The New York Stock Exchange composite index closed down nearly 11 points at 626 and Standard & Poor's 500-stock index closed down 23 1/2 at 1306. Among the most active stocks: America Online, down 7 to 119 1/2; Philip Morris, down 1/8 to 39 3/4; Citigroup, down 2 3/4 to 65 1/8; Compaq Computer, unchanged at 25 1/16; AT&T, down 1 1/4 to 58 1/4; Lucent Technologies, down 1 1/8 to 56 1/2; and Pfizer, down 4 to 106 1/4. The Nasdaq composite index closed down 66 1/2 points at 2453 and the Amex composite index dropped nearly 10 to close at 785. -- The 30-year Treasury bond closed at 92 26/32, up from late Friday's 92 23/32. The issue's yield, which moves in the opposite direction from its price, was 5.76 percent. It was virtually unchanged from late Friday. -- In late New York trading, the dollar slipped lower against the Japanese yen, dropping to 123.08 yen from late Friday's 124.06 yen. The euro moved higher against the dollar, rising to $1.0603 from late Friday's $1.0575. -- On New York's Comex, a 100-troy-ounce gold futures contract for June delivery closed at $272.90 an ounce, down 40 cents from Friday's close. A 5,000-troy-ounce silver futures contract for June delivery closed at $5.03 an ounce, down 15.3 cents. -- The New York Times Company has announced the creation of Times Company Digital, a business unit that will consolidate the Times' Internet holdings. Martin Nisenholtz, president of The New York Times Electronic Media Company, will become chief executive officer of Times Company Digital, effective June 18. Times Company Digital will consist of the company's nearly 50 Web sites. -- MCI WorldCom has announced it it expanding its local presence in the Memphis, Tennessee and Phoenix, Arizona areas. The telecommunications giant says it is adding 150 sales jobs at its Mass Markets Call Center in Memphis. It is increasing its Phoenix area presence by adding 250 sales jobs at its Mass Markets Centers located in Phoenix and Chandler, Arizona. -- Market Statistics at close: DJIA 10654.67 off 174.61 NYSE Composite Index 626.05 off 10.82 S&P 500 Index 1306.65 off 23.64 AMEX Composite Index 785.41 off 9.96 NMS Composite Index 1113.59 off 30.33 NASDAQ Composite Index 2453.66 off 66.48 --  