US shares down but off lows midday on profit-taking

Share prices were off their lows at midday, but lower nonetheless as investors took profits on recent sharp gains and behaved cautiously ahead of tomorrow's Federal Reserve meeting on monetary policy and after yesterday's news of the US Airways bankruptcy, dealers said.

At 12.51 pm, the DJIA was down 95.32 at 8,650.13, the S&P 500 down 9.21 at 899.42 and the Nasdaq composite down 7.18 at 2,289.94.