THE MARKETS
Dow Jones industrial average dropped a precipitsous 34.88 points, closing at 3,741.90 . . . N.Y.S.E.'s composite index down 1.89 to 251.40 . . . NASDAQ Stock Market composite index fell 10.37 to 718.98 . . . American Stock Exchange down 4.07 to 436.19 . . . Gold fell $2.70 to $388.90 on the Commodity Exchange in New York . . . The 30-year Treasury bond closed with a yield of 7.46 percent, up from 7.44 late Friday.
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