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Around the World's Markets: New York

PRICES TURNED lower in late morning trading on profit-taking and futures-related sell programs. At 11:30am, the Dow Jones index was down 39.90 at 9,284.60.

Compaq Computer retreated from new highs after reporting a 48 per cent rise in fourth-quarter sales to $10.9bn, while Internet wonder stock Amazon.com climbed after a fourth-quarter loss of 14 cents per share on Tuesday night, compared with forecasts of an 18-cent loss and a loss of 8 cents in the year-earlier period.