Around the World's Markets: New York

THE DOW JONES fell 90 points in early trading but almost halved losses later thanks to bargain hunting in technology shares. Just before midday the Dow was down 49.98 at 9,316.36, and Nasdaq was 31.02 lower at 2,295,80.

News that the US economy expanded at an annual rate of 6.1 per cent in the fourth quarter of last year fuelled fears of a possible rise in rates. DaimlerChrysler fell on reports that a team is in Tokyo negotiating the takeover of Nissan.