Dow tumbles 75
but techs gain

NEW YORK -- A robust profit report by Dell Computer Corp. lifted technology stocks today, but the Dow Jones industrial average snapped a streak of record highs as the blue-chip sector finally succumbed to a bout of profit-taking.

The Dow Jones industrial average fell 75.48 points to 8,375.58, ending a string of six closing records that had added 270 points to the barometer of 30 big companies.

Most broad-market indicators also pulled back, but a rally among bellwether technology issues lifted the Nasdaq composite index to its highest level since before the steep selloff in late October.

Decliners led advancers by an 11-to-9 margin on the New York Stock Exchange, with 1,306 up, 1,608 down and 546 unchanged. NYSE volume totaled 581.17 million shares, down slightly from the pace of the prior two sessions.

Winners trailed losers by an even slimmer margin on the Nasdaq market, where the composite index rose 11.28 to 1,727.01, its best finish since Oct. 14 and less than 20 points from Oct. 9's record close of 1,745.85.

The Standard & Poor's 500-stock index fell 3.80 to 1,028.28, and the NYSE composite index dropped 2.22 to 535.01. Both measures closed at record highs yesterday.

Smaller-company measures held up better: the Russell 2000 index slipped 0.42 to 454.27, and the American Stock Exchange composite index rose 0.36 to 688.86.

The price of the Treasury's main 30-year bond was down 5/32 point, or $1.56 per $1,000 in face value, by late afternoon, while its yield rose to 5.85 percent from 5.83 percent late yesterday.