"Essentially the market is trying hard to find a footing," one strategist said. "One of the factors putting pressure on the market is that interest rates might go higher."
STOCKS ON Wall Street failed to recover any of the ground lost on Thursday amid growing concern over monetary policy. By midday the Dow Jones was up 9 points, or 0.08 per cent at 10,800. The technology-heavy Nasdaq composite index gained 32 points, or 1.23 per cent, at 2,672.