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Dow off 99.59; Nasdaq
hits another record

Associated Press

NEW YORK - Blue-chip stocks fell for a fourth straight session as investors, fearing a rise in inflation, moved money away from industrial companies and into the technology issues that have pushed the Nasdaq stock market higher.

The Dow Jones industrial average fell 99.59 to 11,251.71.

The technology-dominated Nasdaq composite index rose 45.89 to close at 4,235.40, extending the record it set yesterday.

Broader stock indicators were little changed, although smaller-company shares were showing some strength. The Standard & Poor's 500 index fell 4.21 to 1,441.36. Decliners outnumbered advancers by a 4-to-3 margin on the New York Stock Exchange, with 1,721 down, 1,313 up and 480 unchanged. NYSE volume totaled 1.21 billion shares vs. 1.10 billion yesterday. The NYSE composite index fell 0.93 to 639.58, the American Stock Exchange composite index jumped 12.67 to 912.28 and the Russell 2000 index of smaller companies rose 5.47 to 532.75. The 30-year bond rose , or $5 per $1,000 face amount, to a price of 92 19/32. Its yield fell 5 basis points to 6.7 percent, down from the 2-year high of 6.78 percent reached in intraday trading Tuesday.

The Nasdaq rose on the strength of industry leaders like Cisco Systems Inc., which rose $2.871/2 to $115.25, and newer companies like Healtheon/WebMD Corp., an online health care information company that is the subject of takeover rumors. Its stock jumped $8.94 to $59.56.