Around the World's Markets: NEW YORK

Friday 26 February 1999 00:02 GMT

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US STOCKS fell for a second day on concern that bond yields at six-month highs are making stocks less attractive. Shares partially rebounded after reaching levels some investors found cheap. "Bonds become more competitive with stocks as yields rise," said one analyst.

The Dow Jones dropped 33.33 points, or 0.4 per cent, to 9,366.34, battling back from a 166-point slump. Intel and Dell Computer led decliners on concern that revenue growth will stagnate this year as companies slash prices to win sales.

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