Around the World's Markets: New York

STOCKS TRADED lower in late morning trading yesterday amid lingering worries over Argentina's debt and budget woes.

The Dow Jones industrial average was down 68 points at 11,132, a day after setting another record. "Because markets are setting new highs people are using any excuse for profit-taking and Argentina is the excuse du jour," said James Volk, director of institutional trading at DA Davidson & Co. Analysts said hopes of positive earnings were helping to stem jitters over Argentina.