Around the World's Markets: New York

THE DOW fell on concern that the Federal Reserve will signal an intention tomorrow to raise rates. However, the Nasdaq set its 55th record of the year as investors dived into hi-techs. A Fed bias to higher rates, which could see rates rise twice next year, "could give us a 10 per cent correction,'' said Robert Bloom, chief investment officer of Friends, Ivory & Sime.

The Dow fell 1 per cent to 11,144.27. The Nasdaq rose 30.83 points, 0.8 per cent, to 3,783.89.