Dow falls 68
in rough trading

NEW YORK -- Stocks turned sharply lower in heavy trading today, extending this week's roller-coaster ride, as nervous investors again wasted no time in reacting hastily to any unsettling developments.

The Dow Jones industrial average fell 68.08 points to 7,689.98, having see-sawed from a 54-point gain to a 129-point loss before recovering over the final hour. The Dow tumbled nearly 200 points on Monday in a barrage of profit-taking, but rallied back by more than 150 points yesterday.

Declining issues outnumbered advancers today by a 6-to-5 margin on the New York Stock Exchange, with 1,280 up, 1,540 down and 575 unchanged. NYSE volume was 603.02 million shares, vs. 542.65 million yesterday.

Broader stock measures also flirted with new highs before turning lower as interest rates rose in the bond market, which was pressured by a variety of factors that aggravated worries about inflationary pressures and weak foreign demand.

The Standard & Poor's 500-stock list fell 7.35 to 888.99, and the NYSE's composite index lost 3.27 points to 462.90. The Nasdaq composite index, which closed at a record high on yesterday, fell 6.19 to 1,446.24, and the American Stock Exchange composite index dropped 0.62 to 619.24.

Monday's sell-off was fueled by a small jump in interest rates in the bond market. The price of the Treasury's 30-year bond today was down 20/32 point by late afternoon. Its yield rose to 6.74 percent from 6.69 yesterday.