Around the World's Markets: New York

STOCKS WERE down in late morning trading, hit by profit-taking and a slumping bond market. The Dow was off 72 points, 0.66 per cent, at 10,916, after briefly dropping 100 points before steadying. The Nasdaq was off 8 points, 0.22 per cent, at 3,440, with the S&P500 off 10 points, 0.68 per cent, at 1,407.

Traders said the market was hurt by rising yield on the 30-year Treasury bond, off 26/32; the yield rose to 6.3 per cent as the dollar slumped against the yen.