Prices drift as investors adjust quarterly accounts

New York stock prices drifted lower yesterday in sluggish trading as investors adjusted their holdings before the end of the …

New York stock prices drifted lower yesterday in sluggish trading as investors adjusted their holdings before the end of the quarter and kept an eye on Nato air strikes in Kosovo.

On Wall Street, the Dow Jones dropped 14.15 points - or by 0.14 per cent - at 9,822.24. The blue-chip index was down 89 points in early trading before trimming most of its losses.

The Standard and Poor's 500 fell 7.19 to 1,282.80, and the technology-heavy Nasdaq composite index fell 15.48 to 2,419.32.

NYSE volume totalled 689.97 million shares against 777.62 million on Thursday. The NYSE composite index fell 2.51 to 602.35, and the American Stock Exchange composite index rose 6.34 to 718.74.

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The Russell 2000 index of smaller companies added 0.93 to 393.92.