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...simply too early to tell. What we know for sure, though, is that they didn't ride in last week, when the only tracks in evidence were left by the bears who trampled the NASDAQ, which fell a record 25.3% for the week, and the Dow, which on Friday suffered its worst one-day point loss--a, ahem, dip of 618 points...
...discouraging news on inflation last Friday--the CPI has been rising at a 5.8% annual clip this year, the government reported--don't look for Greenspan to stop boosting rates soon. The ominous prospect of more rate increases, along with basic valuation questions, sent both the NASDAQ and the Dow average on another wild ride...
During the last two weeks, the stock market has made investors across the country more than a little queasy. The Dow Jones Industrial Average plunged 618 points last Friday, its biggest-ever drop. The NASDAQ, which includes many of the highest-flying technology firms, lost a quarter of its value last week...
...beginning of the correction, it started out as bargain hunting because the NASDAQ stocks were extremely expensive as compared to the Dow stocks and the Dow-related stocks. All the tech stocks were very expensive," he says...
Investors lost confidence in the technology sector, Coscetta says, when Goldman Sachs, an investment bank with very large holdings, announced two weeks ago that it was removing a portion of its institutional investments from NASDAQ stocks and moving them back to Dow stocks. Goldman Sachs has one of the biggest proportions of institutional investments in the market, Coscetta says...