Around the World's Markets: New York

US STOCKS fell for the first time in five days, led by oil producers including Royal Dutch Petroleum and Chevron, after an analyst said falling crude prices would depress oil stocks in the next few months. The Dow Jones index lost 127.59 points - 1.1 per cent - to 11,198.45, retreating from yesterday's record close.

"The Dow is near record highs and other benchmarks are closing in on record highs, which implies that a lot of stocks are fully valued," said one analyst.