The drop in the Dow was its first since it fell 57.39 points on Monday of last week, also because of investor anxiety about interest rates.
By midafternoon, however, renewed investor anxiety over interest rates, the dollar and inflation had combined with some arbitrage-related sell programs to push the stock market lower.
The Yukos affair has prompted capital flight and investor anxiety about the commitment to property rights in Russia.
Some added, however, that investor anxiety over the dollar's drop could lift rates before then.
Adding to investor anxiety, oil prices soared to $34.13 a barrel.
Anticipating more investor anxiety, Fidelity had extra people to answer the phones and then sent them home when the calls never came.
In other words, it should be time to celebrate at companies in the business of mining gold, long a haven in periods of investor anxiety.
The prospect of higher interest rates appears to be trumping any investor anxiety about the United States' huge trade and financial deficits.
He attributed the increase to renewed investor anxiety about inflation.
They only succumbed when rising investor anxiety threatened opponents of meaningful reform.