THE MARKETS

:The so-called Santa Claus Effect that boosted the stock market on the day after Christmas fizzled as the Dow Jones industrial average fell 4.34 points Wednesday, closing at 5,105.92. The New York Stock Exchange composite index was up slightly, 0.49, to end the day at 318.13. On the Big Board, advancers led decliners 1,331 to 984, with 778 unchanged. Volume was light with 252.31 million shares traded. The technology-heavy Nasdaq composite index fell 0.68 to close at 1,048.69. The Standard & Poor's 500 stocks rose slightly, 0.23 to 614.53. The American Stock Exchange market value index was up 0.93 to 544.70. In London, gold closed at $387.30, off $0.30.