Word: nasdaq
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Dates: during 2000-2009
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...NASDAQ is in a correction. No, the market is not crashing. And no, the whole thing isn't Thomas Penfield Jackson's fault. NASDAQ's ticker numbers dropped with the swiftness of an elevator in free fall on Monday and early Tuesday, leaving angry investors waving their fists at Judge Jackson for his ruling against Microsoft Monday afternoon. But as the market rebounded in the second half of trading Tuesday, it became more and more clear that the long-inflated NASDAQ may simply be approaching normalcy, with profitable firms such as Cisco and Intel bouncing back to respectable numbers while...
...Many analysts say a gray cloud has been hovering over the NASDAQ since New Year's, one noticed by institutional investors but not by the individual investors caught up in ongoing enthusiasm for all things Internet. Throw in the promise of continued interest rate hikes by Fed chairman Alan Greenspan and it adds up to a major correction waiting to happen. A correction is generally held to be a 10-percentage-point drop-off. At its low point Tuesday, the NASDAQ was off about 25 percent from its high...
Never mind that the markets shrugged, then rallied. The Dow closed the week up 4.9%; the supercharged NASDAQ rose 3.4%. That may only strengthen Greenspan's resolve. To be sure, the economy has been dangerously robust the past couple of quarters. And the gross domestic product is expected to rise 4.1% this year, well ahead of the Fed's presumed "speed limit" of around 3.5%. The torrid growth rate is what Greenspan cites most often when justifying rate increases...
Those fidgety day traders didn't bother waiting for Judge Thomas Penfield Jackson's second decision in the Microsoft antitrust trial. As the 5 p.m. announcement drew nearer on Monday, the desktop dealers dumped more and more of their investments in the tech-heavy NASDAQ, and by the time Jackson, who four months earlier had found that Microsoft wielded monopoly power, delivered a guilty verdict on two of three counts of abusing that power, they had produced a record 348-point, 7.6 percent plunge...
...count Microsoft, or the NASDAQ, or the high-tech industry, out just yet. While the government is now technically compelled to take action that will change Microsoft's business - many think Jackson will seek to break the firm into a bunch of "Baby Bills" when he produces his "remedy" in August - Bill Gates and his Redmond buddies are widely expected to appeal the decision, a process that could drag on for years. In the meantime, the whole nature of the computer-sofware-Internet business will have changed...