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DEFERRED SALES CHARGE - A fee charged when an investor sells back shares during the first few years of ownership.

DEVALUATION - A lowering of the value of a currency relative to other currencies.

DISCOUNT - Interest withheld when a note, draft or bill is purchased.

DISCOUNT RATE - The rate of interest charged by the Federal Reserve on loans it makes to member banks. This rate has an influence on the rates banks charge their customers.

DIVIDEND - A distribution of the company's earnings to shareholders, usually consisting of stock dividends, interest on bonds, or short-term capital gains on the sale of securities usually paid quarterly in the form of cash or stock.

DIVIDEND REINVESTMENT PLAN (DRIP) - Plans that require you to buy just a single share of a company's stock to enroll. Ideal for investors who want to start with a small position in a stock and add to it on a periodic basis and the dividends are automatically reinvested in more shares. An additional advantage is that one can invest in a company without having to pay brokerage commissions or buy 100 or more shares at once - as some brokers require.

DOLLAR VOLUME - The number of shares traded multiplied by the stock price. The resulting figure tells how much money was turned over in the stock on a given day.

DOW JONES INDUSTRIAL AVERAGE - A price weighted index of 30 active blue chip industrial stocks (ATT and American Express, though not industrial, are included). The Average is quoted in points, not dollar value. (averages.dowjones.com/home.shtml)

DOW JONES TRANSPORTATION AVERAGE (DJTA) - The oldest U.S. stock index, it measures the performance of 20 companies, from railroads to overnight delivery services, that move things from one place to another.

DOW JONES UTILITIES AVERAGE (DJUA) - An index of 15 leading utility companies. Some analysts believe a rise in utility stock prices is a signal that Wall Street expects interest rates to go down.

DOWNSIDE RISK - The probability that the price of an investment will fall.

DRIP - see DIVIDEND REINVESTMENT PLAN

DUMPING - Selling a product below cost in a foreign market in order to preserve its domestic market value.