NEW YORK -- Negative news from Cisco hurt U.S. tech stocks Wednesday, and the broader market was off fractionally.

The Dow Jones industrial average lost 0.89 points, or 0.01 percent, to close at 10,385.48 on a volume of 1.51 billion shares. The Nasdaq composite fell 8.77 points, or 0.43 percent, ending at 2,034.56, and the Standard & Poor's 500 was off 1.17 points, or 0.10 percent, to settle at 1,162.91.

The trade gap shrank to $51.56 billion during September from $53.55 billion in August, the Wall Street Journal said. In other good news oil remained steady near $47 per barrel.

The Fed raised a key bank rate a quarter-point Wednesday, and weak Cisco revenues hurt the Nasdaq.

The 10-year Treasury note added 8/32, or $2.50, for each $1,000 invested, for a 4.25 percent yield.

The dollar surged to 107.13 yen from 105.74, and the euro fell to $1.2897 from $1.2898.

Tokyo's Nikkei 225 closed at 10,994.96 after gaining 30.09 points, or 0.27 percent. London's FTSE 100 settled at 4,734.50 after gaining 16.80 points, or 0.36 percent.

Copyright 2004 by United Press International