Around the World's Markets: New York

THE DOW Jones fell 66.67, or 0.6 per cent, to 10,581.84 after a JP Morgan & Co economist said the firm expects the Fed to raise interest rates three times between now and June.

General Electric's much-lauded chairman and CEO, John Welch, will retire in April 2001, the company said. There had been much speculation on Wall Street about when Mr Welch, who is 64 later this month, might retire. The stock reached an all-time high of $1363/16 on Friday.