NEW YORK (AP) _ The stock
market finished lower Wednesday, after
staging a partial recovery from a broad
fall that came in tandem with sagging
The Dow Jones average of 30
industrials fell 23.92 points to 2,961.99.
Early in the afternoon, the Dow average
had sunk to a low for the day of 2,936.49
Declining issues outnumbered gainers
by almost 4 to 1 in nationwide trading of
New York Stock Exchange-listed stocks,
with 1,238 down, 364 up and 471
Volume on the floor of the Big Board
came to 166.50 million shares, up from
161.61 million in the previous session.
Nationwide, consolidated volume in
NYSE-listed issues, including trades in
those stocks on regional exchanges and
in the over-the-counter market, totaled
202.44 million shares.
Analysts could not pinpoint any
particular feature spurring the decline,
which hit virtually every sector of the
market, other than to say the stocks
seemed to be following the bonds.
"It's across the board," said Jonathan
Dodd, a vice president and technical
market analyst at Dean Witter Reynolds
Inc. "It's secondary stocks and broad
The market has been mostly moving
down following the Dow average's
recent moves above 3,000 points, and
Dodd viewed Wednesday's session as a
continuation of that trend.
"There's been some added fuel to the
fire to so to speak, with Treasury bonds
being whacked again," he said. …