But the Dow industrials have done much better than the Dow utilities, up just 2.1 percent.

The plunge sent the interest-sensitive Dow utilities to a 13-month low.

Over time, the Dow utilities have gained a reputation as a forecaster of trends in interest rates.

Among the 15 stocks in the Dow utilities average are several electric utilities whose prices have slipped about 5 percent each.

Last week's gain of 2.8 percent for the Dow utilities outstripped all other major averages and was the best for that index in more than a year.

A record was also set by the Dow utilities average, which rose 0.52 point, to 223.34.

The Dow transportation index fell 16.18, to 1,101.17, while the Dow utilities climbed 1.76, to 218.06.

The Dow utilities slid 1.76, to 211.96 - the lowest since July 6, when it stood at 210.32.

The Dow utilities are down 14.6 percent from the 1994 high.

For example, the prospect of lower interest rates generated purchases of utility stocks, lifting the Dow utilities average 3.51 points, to a record 227.83.