AROUND THE WORLD'S MARKETS: NEW YORK

INVESTORS fearful of the potential for another sharp downturn in the stock market took profits on an early rally yesterday, and sent blue chips modestly lower at close. But technology, financials and smaller stocks held on to gains as analysts urged selective buying after Monday's rout.

The Dow ended 45.06 points down at 7,782.37. Before the late sell-off, the index was positive most of the day, rising by 125 points. The tech- laden Nasdaq ended up 17.76 points, 1.13 per cent, at 1,592.85, off its day's high.