Around the World's Markets: New York

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.

"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."