11.   Gains in so-called old economy stocks like DuPont, Alcoa and Minnesota Mining and Manufacturing more than offset big declines in International Business Machines and Microsoft.

12.   Higher interest rates have slowed the market for old economy stocks, but not for the stocks that are pacing this bull market.

13.   Of course, analysts like Parekh cannot be held entirely accountable for the money investors have lost in new economy stocks.

14.   Rising rates hurt old economy stocks such as banks and other financial institutions, retailers, producers of consumer products and growth-related cyclical companies.

15.   The technology-laden Nasdaq exchange continued its weeklong descent Thursday, as uneasy investors sold off shares in new economy stocks that have climbed sharply for months.

16.   Yet even strong fundamentals are subject to the whimsy of investors, whose appetite for technology stocks hurt valuations of so-called old economy stocks in recent years.

17.   As evidence of the cautious environment, many so-called old economy stocks fared poorly Thursday.

18.   Both old and new economy stocks felt the impact of the gloom.

19.   In Frankfurt, old economy stocks rallied and Siemens and Deutsche Telekom recovered, but a profit warning from Ixos Software pushed the DAX into negative territory.

20.   Investors still concerned about the health of the economy bid stocks lower in early trading Wednesday.