Around the World's Markets: NEW YORK

Saturday 22 May 1999 00:02 BST

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THE DOW JONES index declined 37.46 to 10,829.28, and the Standard & Poor's 500 slipped 8.54 to 1,330.29.

The Nasdaq index, packed with computer companies, slumped 21.59, or 0.9 per cent, to 2,520.64.

The decline in stock prices was led by computer-related shares such as Microsoft, as investors shifted from large firms that gained the most in recent years to laggards, including small stocks and utilities.

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