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Around the World's Markets: New York

US STOCKS remained in negative territory at midday as high yields in Treasuries gave investors a safe place to store profits following the Dow's record run. The Dow average was down 77 points at 10,809, while the tech-laden Nasdaq Composite fell 42 points, or 1.7 per cent, to 2,443, following yesterday's 50-point drop.

An analyst said: "We had essentially 24 days of going up in the Dow, so taking two days off is not unhealthy."