Around the World's Markets: New York

Monday 19 July 1999 23:02 BST

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STOCKS FELL as strong profit reports from banks and brokerages failed to impress investors who have driven the market to record highs in recent weeks. The Dow Jones index closed down 22.16 at 11,187.68.

The Nasdaq fell 34.10 to 2,830.38 as investors awaited earnings reports from several technology bellwethers, including Microsoft. After the market closed, Microsoft said earnings rose 62 per cent in its fourth quarter, ahead of expectations.

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