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Dow Ends at 4th Consecutive High

February 13, 1998

NEW YORK (AP) _ The Dow Jones industrial average edged a half point higher today to notch its fourth straight record, but most stocks fell as a second day of declines on Asian markets fueled doubts about that region’s recovery efforts.

According to preliminary calculations, the Dow rose 0.50 to 8,370.10 as a last-minute push wiped out the remnants of an early 57-point slide.

Broader stock measures, however, finally succumbed to some profit-taking after three days of record highs.

Stocks were weighed down at the open by another shaky day in Asia, with the main stock indexes in Hong Kong and the Philippines each dropping 3.3 percent

In Tokyo, stocks fell 2.2 percent amid growing worries that an upcoming stimulus package won’t be strong enough to shore up Japan’s economy.

In Europe, Frankfurt’s DAX index fell 0.8 percent and London’s FT-SE 100 rose 0.5 percent.

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