It is also rebounding from a two-day drop.

The steep two-day drop came after the index had hit four record highs since late last month.

The American Stock Exchange market value index fell 2.04, to 376.41, bringing its two-day drop to 4.7 percent.

Some traders saw the two-day drop in Tokyo as a buying opportunity.

The Nasdaq composite index fell another 5.96 points, to 659.43, for a two-day drop of 4.5 percent.

That two-day drop amounted to almost 69 points - a total that would cause barely a batted eyelash now.

The Dow Jones industrial average slid 18.47 points, to 5,624.71, bringing its two-day drop to 68.70 points, or 1.2 percent.

Yesterday, the Dow Jones industrial average fell 32.20 points, to 3,181.35, for a two-day drop of 94.14 points, or 2.9 percent.

In the two-day drop the stock, which trades on the New York Stock Exchange, lost 13.5 percent of its value.

Yesterday's decline brought the two-day drop on the indicator to 82.85 points.