Word: nasdaq
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Dates: during 2000-2009
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Once upon a time in March, when the NASDAQ hit its record high of 5048 points, tech investors were seen all over Wall Street's bars and restaurants, hoisting microbrews and declaring they couldn't be bothered with the insipid Fed-watching that had gripped their Old Economy brethren ever since "irrational exuberance." We're betting on the future, they said, and the future is always bright for geeks. Now, two months and a staggering 37 percent later, NASDAQ is the wisp in the Fed's wind. Tuesday, week-old worries about another interest rate raise in the wake...
...economy, trouble is definitely in the wind. And now that investors have glimpsed the tech sector's mortality, and read the news articles about venture capitalists turning off the money - and seen venerable Cisco Systems mired in the low 50s - trouble from the Fed is likely to hit the NASDAQ first and hardest for a while. Those techies had better pray that the next batch of economic numbers are tepid enough to get Greenspan's foot off the brake...
...nose-diving NASDAQ forecasting a recession? No one knows. But the Federal Reserve will raise short-term interest rates this week, possibly by a hefty 0.5 percentage point. I'm not suggesting anyone hit the panic button. But a steady rise in interest rates is how good times often end. Given that the Fed has been boosting rates since last June--mortgages are the costliest in five years--why not use today's prosperity to pay off debt...
Wall Street may be sounding a collective "Are we there yet?" to Alan Greenspan. The NASDAQ tumbled to its low point for the year Monday, losing more than 5 percent of its value in a brisk sell-off that also took the Dow down more than 250 points before both markets recovered in late-afternoon trading - the Dow finishing down 84 points down and the Nasdaq shedding 26.2 points. While analysts struggled to pinpoint a precise reason for the market's stormy Monday, the specter of more interest-rate hikes was a recurring theme, particularly in light of record trade...
...revelers at Dylan were mostly twentysomethings and soooo trendy. They looked like a bunch of Gap models with cell phones pressed to their beautiful little ears. More on point, virtually all of them were chastened day traders. A young partner in the restaurant venture confided that the volatile NASDAQ had all but ruined him, prompting him to--oh no!--start a career...