NEW YORK -- Most stocks fell today, but blue-chip stocks edged higher as investors shrugged off worries about the near-collapse of a leading hedge fund. Dow up 26.78
The Dow Jones industrial average rose 26.78 points to 8,028.77 despite an early 112-point slide that temporarily wiped out the rest of Wednesday's 257-point surge. Yesterday, the Dow fell 152 points, mostly as a result of profit-taking on the prior day's big gains. The blue-chip index finished the week up 133.11.
Broader stock indexes also recovered from an early sell-off fueled by uncertainty over the near-
collapse of Long-Term Capital Management, which manages investments for the wealthy.
The Standard & Poor's 500 rose 2.03 to 1,044.75, and the technology-heavy Nasdaq composite index rose 23.25 to 1,743.59.
Decliners outnumbered advancers by a 10-to-9 margin on the New York Stock Exchange, with 1,460 up, 1,618 down and 469 unchanged.
NYSE volume totaled 723.92 million shares, down from 799.69 million in the previous session.
The NYSE composite index fell 0.91 to 515.68, and the American Stock Exchange composite index dropped 2.31 to 639.99.
The Russell 2000 index of smaller companies lost 1.23 to 369.02.
The 30-year Treasury bond jumped 23/32 to 105 26/32, with the yield falling to 5.12 percent.
In Europe, London's FT-SE 100 index fell 2.1 percent, Paris' CAC-
40 fell 2.1 percent and Frankfurt's DAX fell 1.8 percent.
Tokyo's Nikkei stock average dropped 3.4 percent amid renewed worries about political deadlock in the effort to rescue Japan's ailing financial system. Stock prices fell 1.7 percent in Hong Kong.