Around the World's Markets: New York

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US STOCKS were down as Wall Street was rattled by a jump in bond interest rates to the highest level in a month after the dollar sank to a four-year low against the yen.

The Dow Jones average fell by 40.99 points to 10,947.92, and the NYSE Composite slipped 3.45 points to 636.50. Analysts said the dollar's slide against the yen fuelled speculation that investors may pull money out of US assets and shift to the Japanese markets to exploit the strong yen.